Why would a buyer want to know whether any additions or alterations were made to a property?

A buyer would want to know whether any additions or alterations were made to a property to determine if permits were pulled. This is essential for several reasons. First, when alterations are made, especially structural changes or expansions, they typically require permits to ensure that the work complies with local building codes and regulations. If the owner did not obtain the necessary permits, it could indicate that the work was not completed to code, potentially leading to safety issues or legal challenges in the future.

Understanding whether permits were obtained also affects the buyer's investment. Unpermitted additions can decrease the property’s value, as lenders may not finance properties with unpermitted work, and insurance companies may refuse coverage for issues arising from those alterations. Additionally, if modifications are revealed during a home inspection that were not permitted, this could lead to costly repairs or the need to remove the work altogether to comply with local laws.

Being aware of the property's additions or alterations, and knowing whether they were legally permitted, allows the buyer to make informed decisions regarding their investment, future property value, and overall safety of the property.