Some of the old wiring will come out, some will remain buried, kinda depends, but once it is disconnected, it really won't much matter. Not sure what they call "new" wiring, but I am sure there is a name for it.
Sorry if I came across a little rough in the first post about this. I didn't mean to be disrespectful, its just that, since I started getting into real estate sales, both from the buyer and seller side, I see a lot of things that should not happen to people who just didn't know the right questions to ask. It is like a "need to know" thing, if the seller isn't forced to offer a piece of information by law, and the buyer doesn't know to ask, bad things can happen to good people.
Even with the statement that you had an inspection done, if you don't know what to read in that inspection report, it is just words on paper. Just like an x-ray, the picture can show great detail of what is going on inside, but if you don't know what you are looking at, it is useless.
Just don't like to see people get hurt, especially with something that is such a large investment. The commission is why you do it, but the satisfaction of seeing a young couple getting into their starter home, or finding the extra room for the new addition to the family, watching an older couple sell the home that their children grew up in, moving on knowing they got a good return for their investment, seeing the look in their eyes when it all goes together smoothly, all of those things are of much greater value that the percentage you might get. And here, that percentage is very small.
My sister lives in California. When I tell her that I helped in a deal that sold a four bedroom, two bath house with a new roof and new furnace, appliances included, for seventy to eighty thousand, she gets all flabbergasted. You can't even buy a ten year old beat up used trailer for that out there.
Later
Albert