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I think buying a house "as is" is asking for trouble. The cases I am personally familiar with did not go well for the new owner...long story short...cost way more than the "deal" they got. Here in Ma and other states there is no statute of limitations on wrong or illegal work, even if you have permission from the BI. Anyone can ask to see and get copies of the permits issued (public record) and if there is any discrepancy between the permits and the actual conditions a red flag should go up. As the new owner without permits you will be on the hook. In addition, in the event of an insurance loss, the homeowners policy will be terminated because of non permitted work and the homeowner is out the monies he could have collected. As probably the largest purchase someone makes I think prudence should prevail.
As for the illegal work and later discovered, the BI will use the code in effect at the time of violation or the building date of the home if he is inclined to do so (break here for the new owner) and have the violation fixed to that code. It is usually handled this way because the newer codes have changed some much that their adherence could cause undue hardship fore the contractor or homeowner.
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