Key Information About Stigmatized Properties

When an unfortunate situation takes place within a home and does not damage the property but still deters buyers, this is referred to as a stigmatized property. Unpleasant events, such as murder, criminal activity, suicide, or even ghosts can make a home stigmatized. Previous homeowners with infectious diseases is another reason which causes shun from buyers.

Only 31 states had laws concerning stigmatized houses in 2001. In the majority of those cases, the real estate brokers and sellers were not required to disclose whether or not a home was stigmatized. Anything which may be damaging to the structure must be told to homebuyers, but superstitions, illnesses and such did not have to be shared.

For those states which do not offer exemption to the seller on stigmatized properties, it can be a hard road. If the story cannot be verified, then it may not be essential to tell the new homeowners. You may not be allowed to disclose if the previous occupants had HIV, since the federal housing laws protects these individuals as though they were physically challenged.

Mentioning to the buyer that they should research the house’s history might be the best solution. If murder or death occurred in the home, it is quite easy to prove. News archives at the public library will easily show the truth.

You should tell the buyer in circumstances like these. It is clear that the story will come out, so it is best when it comes from you. If you were honest in your disclosure, they cannot come back later and walk away from the deal.

If negativity may affect the sale of your home, research your state laws on disclosure. If so, remember to look into your own home to be sure its stigmata is real and not just a rumor. Then you can choose whether to tell the buyer or not. If the buyer asks you flat out, it is always best to disclose.

Whether you are looking for Littleton or Boulder real estate, our websites will help. Boulder real estate or Littleton real estate are readily searchable and just two examples of the cities which we allow you to search real estate listings.

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