Home condemned by the city of Portsmouth due to structural issues; sold as-is no repairs to be made. From the city of Portsmouth: If they demolish the building, then any reconstruction (even on the “old” foundation) will be considered new construction under the flood regulations and will need to be in full compliance with the current flood regulations.If improvements, repairs, and/or alterations are made to the existing structure, then the 50% threshold will apply. The threshold is that if the total value of ALL the work being done (fair market value of the materials, labor, demolition, overhead, etc.) EQUALS or EXCEEDS 50% of the assessed value of the structure (not including the land), the the entire structure needs be brought into compliance with current flood regulations
Disclosure Statement, Related to Seller
Listing Courtesy of BHHS Towne Realty.