Any house built before 1950 comes under tighter scrutiny. When we buy our house; we have to get the house insured. The insurance has to cover the cost of rebuilding the house to the appraised value.
Insurers are looking at plumbing, electrical and heating (as well as other items). Houses built prior to 1950 that do not have full copper plumbing, updated electrical and wall heaters will be more expensive to insure. Some insurance companies won't insure properties without upgrades.
This is important info for both the buyer and seller in order to understand the marketplace. Just not the sales price; but other costs related to the physical condition.
