Some of you may remember the LP siding products of the early 90's and the lawsuit that followed. Long story short, I'm in the market for our next home and an older home (1992) came up which was a bit outside of our preferred age range for a home, but, it checks many boxes so was worth a look. It also, unfortunately, checks a box for having original LP siding. I can tell someone has looked after it, all very well caulked, painted, and no signs of typical deterioration for most of the house. There are a couple of boards which have extreme exposure and are a bit soft. I assume they can be replaced, but I've also received a couple of different opinions ranging all the way from "it's a 28 year old home, a couple of boards needing replaced is a very minor issue", all the way to "run, don't walk away, early 90's LP is a tainted product and you will have significant problems ever selling the house unless you completely re-side it".
I hired an inspector who pointed out the boards and agreed the siding had been very well cared for overall and further deterioration would be minimal if I kept up with maintenance. After all, the product has lasted almost 30 years. Also, no, it's not Cedar.
Anyone with experience here? Sold a home with LP? Bought a home with LP? If we asked for a price concession, what are the factors to determine how much we ask for?
I hired an inspector who pointed out the boards and agreed the siding had been very well cared for overall and further deterioration would be minimal if I kept up with maintenance. After all, the product has lasted almost 30 years. Also, no, it's not Cedar.
Anyone with experience here? Sold a home with LP? Bought a home with LP? If we asked for a price concession, what are the factors to determine how much we ask for?
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