It can differ by state and lending institution, but usually if you're borrowing a significant portion they will require a pest and building report on the property as well as their valuation. This would tell you if it worth buying or has too many issues that aren't just cosmetic.
Remembering that even cosmetic things can eat through the money.
We live in a house with some asbestos still left and grew up in one where it was removed. Most of the older home here hsve it. So long as you don't mess with it or otherwise get it removed professionally its not an issue we've found.
Good luck, I hope you get your dream either now or in the future.






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