Electric may need bringing up to code

[Tom R.]

I'm about to place an offer on a house  when my realtor tells me that the seller is concerned that the electrical may not be up to code and they do not want to pay to fix it. It is a single level 800 sq ft house 2 bed 1 bath built in 1960. How much of a nightmare is this? What might be required to bring it to code? What is the estimated cost?

[Tom R.]

Well it doesn't sound as bad as I originally thought. I've got a friend who is an electrician who I might be able to talk into doing the work for some beers and pizza.