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| Stigmatized
Property |
A stigmatized property is one
that is believed to be haunted or an unsavory event
took place in the home such as a murder. Depending on
the state, this information may need to be disclosed.
Remember, you do not necessarily need to fix
anything you disclose. You just need to let the buyer
know about it and price accordingly. It is a good idea
to include this in your information pack to prospective
buyers.
Realty Agents back the practice of disclosure, as they
do not want fingers pointed at them in the event a major
issue is discovered after closing and a lawsuit entails.
This can lead to bad press about the agents and brokers.
The National Association of Realtors (NAR) would like
to see some form of disclosure mandated in every state.
According to the NAR, one of the largest areas of controversy
in the process of buying and selling a home is the failure
to disclose the defects in the property.
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