Sure, Insurance companies have minimum standards, but they're more concerned with fire hazards then strict structural "code" compliance. They often simply allow their local agents to perform an "inspection" and take pictures etc for the underwriters approval.
When theres no mortgage which usually requires a certain degree of code compliance prior to issuance of the loan, a homeowner can get by with more. Just because there are no known reported code violations, that doesnt mean a new bank is gonna improve a loan on a home in its present condition.
I wouldnt be afraid to purchase such a home so long as your price allows for all the necessary repairs PLUS THE FOLLOWING.
ATTORNEY'S NOTE: If youre going to buy a foreclosed home, I wouldnt do it unless and until a reputable Title Insurance company is willing to sell you title insurance !!!!!!!!!!
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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