I would be very cautious about buying this house. When I did my basement. The electrician really stressed that I have the electrical inspection done before I put up any drywall. He said that if the inspector comes and he can't see the electrical work, he will make you take the drywall down so he can see the that the wiring is up to code. Others told us not to worry about getting a permit. But I thought, God forbid this house burns down and I didn't have an electrical permit and inspection. Insurance probably woudn't cover it.
Protect yourself. Other houses will come on the market. I'm in the process of looking for a bigger home myself. My wife and I are being really picky because it is a buyers market right now. If it isn't exactly what we want. We are not making an offer.
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