Un-Grounded 3-Prong Outlets In An Older Home

One of the issues which I see frequently during a home inspection is ungrounded 3-prong outlets.  We see often in older homes here in the Cincinnati area.  What likely occurs is the homeowner goes around to all of the ungrounded (originally wired) 2-prong outlets in the home, and takes the 2-prong receptacles off, and install newer 3-prong receptacles in their place.  So what are the concerns with this, and is it a small issue or a big one.  Can it be corrected easily or should you as a buyer start running away from this house? I would begin by saying that while this is something important to address (meaning fix it), it’s also relatively easy to correct, and generally not

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