Codes/ Up to Code/ Older Home (Grandfathered)

[Mike R.]

Looking to buy a 2nd vacation home in Big Bear California and got the winning bid on one. A few problems though, since it's an older home (built in 1951) the stairs are not quite up to code (7" wide and a bit steep going to the 2nd floor) and one of the windows in the bedroom is not the proper egress.

It looks as though it has passed the rental program inspection though (waiting to get final confirmation) because it is grandfathered in. 

Do I have to worry about anything else or because it passes the Big Bear rental program, I don't need to worry , as that has me covered?

Basically, I'd hate for something to go wrong (Someone falls down stairs or worse) and they can sue me as it wasn't up to building codes? But again, if Big Bear says its grandfathered in, am I good?