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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.
s on the frequency and the level of flooding should be
provided. |
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