The best place to get an expert answer to that is at your local title company. You don't say what state and county the property is located so I can't help with a link to a title company in the area.
I used to work for a title company in California and they addressed issues like this all the time.
I'm thinking that if this is a quote from the deed, that this is the reference needed about the house:
the deed refers only to existing "buildings" on the 7.39 acres purchased from the previous owners