do I need to update electrical system before selling? Is it worth it?Selling a single family home near Philadelphia. Code requires removal/ new wiring for knob and tube plus wiring for smoke alarm, update outlets near sinks. SHould we incur this cost now or deal at settlement? It will be in neighborhood of 20,000 $ for us to do it all. There is already little to no profit in sale due to over mortgaging.November 18 2013 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.