Old wiring shocks buyers

Home inspector overlooked knob-and-tube 'problem'

DEAR BARRY: Our home was built in 1946 and has a serious electrical problem. The previous owner replaced the old fuse box with a breaker panel and the old two-prong wall outlets with three-prong outlets. But he left the old knob-and-tube wiring as-is, and this was never disclosed by our home inspector or the seller.

Our contractor discovered it recently, while working in the attic. How serious is this issue, and what actions can we take against the seller and our home inspector for nondisclosure? –Lucas