Haunted Houses
“Haunted houses are a popular attraction this time of year, but we wanted to see how many people would actually live in one,” said Sarah Staley, a housing expert. RealtyBiz News reports on a recent survey, “What we found may be a sign of today’s tight housing market, or for many living in a haunted house doesn’t have to be a deal breaker.”
The spooky finding came from a recent survey of more than 1,000 consumers by Realtor.com. The survey found that 33 percent of respondents would be willing to live in a house that’s said to be haunted, while another 25 percent would consider the idea.
Houses in which a murder or suicide happened or where there are rumors of haunts or poltergeists fall under the subject of stigmatized property. “Stigmatized properties are homes where a real or rumored event occurred that didn’t physically affect the property but could adversely impact its desirability.”
A seller has an obligation to disclose in writing that no hidden defects exist in the home. The common law has for decades imposed duties on sellers of real estate, especially private houses. A realtor discloses to the buyer any material facts known to the seller affecting the value or desirability of the real estate for sale.
Haunted Houses
As a seller of a property where a gruesome murder occurred or some believe the house is haunted, do you have an obligation to tell potential buyers? No, you don’t legally. The realtor representing the seller has a fiduciary duty to the seller. If the seller is adamant that the information stays hidden, you may not disclose that information. You may not want to represent the seller, however.
To a buyer, a stigmatized property could be a material fact in determining the value of the house. In this case, a realtor representing the buyer should share that kind of information. Without telling your buyer, you could be misrepresenting the property and lose the buyer’s trust.
Some realtors like to ask, half in jest if there have been any murders or suicides on the property. If it is material and recent, the realtor should disclose the facts. The farther back in history the event happened, the better for the seller. Hauntings and superstitions are of the kind that you had to be there to believe.
A realtor may regard the market’s aversion to crime scenes as temporary. For a time, the tragedy hammers the property’s value, making it impossible or difficult to sell. We recommend occupying the home or renting it out for two to five years.
Harmony Property Solutions, LLC is here to help homeowners out of any distressed situation.
As investors, we are in business to make a modest profit on any deal. However, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple, truth about your home and how we pay cash for houses Cedar Rapids.
Harmony Property Solutions, LLC is part of a nationwide group of thousands of investors who are helping tens of thousands of homeowners every year. We may not be the “traditional” route, but we CAN help, and we can do it quickly!
Give us a call today at 319-343-6773 to let us know how we can help YOU.