As a kid I remember the pre-deluvial Jack Benny TV show where the lead character was a violin playing scrooge who always claimed to be 39, season after season.
In a similar context, I've seen some agents list the age of a renovated home as the effective year of the reno. This is poor practice and immediately makes one suspect. For example, was some or all of the knob-and-tube wiring replaced. Same goes for insulation, piping and every other hidden system. What about the hazardous material? Was all the asbestos and lead paint removed or just some?
For a pre-1990 renovated house, I would expect to see:
- For disclosure, list both actual age and date of reno.
- For a healthy house environment, have available the HazMat Assessment Report and Clearance Letter, issued before the reno.
- For a safe house, have available the permits issued during the reno.
The trend, with consumer protection and real estate industry regulations, is towards ever greater disclosure. I would suggest that agents pay special attention when listing renovated properties. Why not be ahead of the curve?
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