The outside wall restriction is a new one on me. The sink, though does violate the 'unobstructed access to the breaker panel' rule. However, unless the breaker panel is modified in conjunction with the transfer switch installation, most inspectors wouldn't give the installer a hard time about it.

YMMV

Thanks. The breaker panel would be modified.

Will the electrician who will do the work apply for an electrical permit? If so then someone needs to talk to the code official about what is required. Codes change over time. You can't rely on what an electrician says. The code official has the final say whether the installation is code compliant.

Thanks. I think they talked about permit. Not sure. The biggest question for us now I think is regardless of whether we do generator or not, do we need to move breaker box if not for our safety sake. And this electrician also pointed out some corrosion and a little water in outside box that is connected to meter

I have 2 houses (decent quality builds), both have breaker boxes on outside walls - 1 x 200amp in one and 2 x 200 amp in the other and above ground. I don't know about mounting in a basement area though. Regardsless, you may want to move the laundry sink (much easier than moving all the wiring). It may not be against any code but it doesn't sound safe to me.

And DEFINITELY get a permit and inspection fr this work.

Thanks

The panel location does violate current code. There is supposed to be a 30" wide and 36" deep unobstructed space in front of the panel. Just picture yourself sliding an empty refrigerator box up in front of the panel - in your case the sink would definitely be in the way.
https://cdnassets.hw.net/dims4/GG/d2a64dc/2147483647/resize/300x%3E/quality/90/?url=https%3A%2F%2Fcdnassets.hw.net%2F8f%2Fdc%2F19e726504d8fbc59045cf5a2d281%2Ftmp5-2etmp-tcm96-1045565.jpg

Electricians usually put a sheet of plywood on the wall and then screw the panel to the plywood, but this is more for convenience than it is for any code requirement I'm aware of. The plywood gives them somewhere to screw down the panel, hammer in wire staples, etc.

Bruce

Our home, built in 1970 has the breaker panel directly above the gas water heater. I wanted to put in a whole house generator, but DH said the cost to move the electrical box would be too expensive. We have a portable generator and he says as long as he’s around it will do.

I believe you can meet the clearance rule if you move or replace the sink so that the right hand edge is 30 inches from the door. That will also allow the door to swing open without hitting the sink. I don't think there is a rule about the minimum distance from a faucet to a circuit panel. Someone who knows the electrical code can correct me if that is not the case.

What is a problem is the old wiring. I see a mixture of BX and Romex cable. The Romex cable may not be allowed in your municipality. The code official will make a determination if the current panel and wiring meets the latest municipal code..