Stigmatized property in the USA and the world: what you need to know

The story of every home: the importance of revealing information
Real Estate Purchase: Important Aspects

The story of every home is unique.

Most buyers seek to learn more about a property before closing a deal. In the United States, there is a concept known as 'stigmatized property,' which refers to homes with unusual past histories, including those where ghosts have been discovered, crimes have occurred, or where individuals with certain issues have lived.

Laws on information disclosure

Laws in some states require sellers to disclose information about past events that occurred in the home. For example, the house on Ocean Avenue in New York has repeatedly been labeled as 'haunted' due to a murder in 1974 and a film made about the event in 1979.

The rules for conducting transactions vary in each state, so it's important to carefully study the local laws before purchasing real estate. For example, in California, sellers are required to disclose any deaths that occurred in the house within the last three years, and failing to do so can lead to legal consequences.

The importance of disclosure of information

Sellers must provide all information about past events related to the house, including crimes and other incidents. Disclosure rules apply both to the sale and rental of properties. This helps buyers make informed decisions and avoid unpleasant surprises.

Examples of disclosure rules

In the state of Virginia, sellers are required to disclose paranormal activities and crimes that have resulted in damage to the property.
In California, sellers are required to disclose any deaths that have occurred in the last three years, and failing to do so can lead to legal action.

These rules are aimed at ensuring complete transparency for potential buyers and renters. Sellers must disclose past events and incidents in the house to help buyers make informed decisions.

Information about the house

In Utah and New Jersey, realtors are required to provide information about a house upon a buyer's request, while in other states, you can conduct your own research on the house. Just enter the address into a search engine, and you'll find all incidents related to that house.

Sale flat in Miami 5 218 478,00 $

USA,Miami

4 Bedrooms

5 Bathrooms

353 м²

Sale flat in New York 4 997 954,00 $

USA,New York

2 Bedrooms

2 Bathrooms

234 м²

Rent other properties in Verbano-Cuzio-Ossola 2 294,00 $

USA,Verbano-Cuzio-Ossola

2 Bedrooms

2 Bathrooms

75 м²

Sale house in Terney 1 737 525,00 $

USA,Terney

5 Bedrooms

4 Bathrooms

346 м²

Sale house in Lisbon 7 922 680,00 $

Spain,Lisbon

6 Bedrooms

7 Bathrooms

930 м²

Sale townhouse in New York 8 746 311,00 $

USA,New York

7 Bedrooms

9 Bathrooms

464 м²

You can also talk to the neighbors or use specialized websites like DiedInHouse or HouseCreep.

The principle of 'caveat emptor'

In the US, there is a principle of 'buyer beware', which is why properties with questionable histories are sold at lower prices. Even a minor crime can significantly reduce the value of real estate. For example, Martin McNeil's house in Utah became cheaper after the public disclosure of his crime.

Global trend

This trend is not unique to the United States; it is also observed in other countries. In Hong Kong, properties associated with tragic events are sold at a discount. Some agencies have separate sections on their websites dedicated to 'homes with a history.' For many buyers, this is a great opportunity to save money.

Customer choice

Although many prefer to buy properties where a natural death occurred, rather than a murder or suicide, some renovations and a new interior design can change the perception of the house, regardless of past events. The first impression is extremely important, and many are willing to purchase a home with a tragic history.

Associations and reality

While the house does not pose a threat to the residents due to its past history, many are willing to make concessions for a successful deal. 'It's not the house that kills people, but people who commit crimes,' says the movie 'The Amityville Horror.' This reminds us that it's important to consider the situation from all angles and to be vigilant when buying a home.

Every house has its own unique story.

Any propertyIt has its own unique history, which can influence buyers' desire to purchase this house or apartment.

The concept of 'stigmatized property' in the USA

In the US, such properties are referred to as 'stigmatized real estate.'This includes haunted houses, crime scenes, or places where people with HIV live.

The obligation of sellers to disclose information

In some states, sellers are required to disclose information.about the terrible events that took place in the house before finalizing the deal.

The importance of information disclosure for pricing.

This could lead to contract termination and affect the final price of the property."Stigmatized properties" sell for an average of 3% less and stay on the market for 45 days longer than regular properties.

Specialized resources for buyers

For customers who want to learn more,There are specialized resources and websites.providing information about terrible incidents in the houses they are interested in.

Conclusion

When purchasing real estate, it is important to consider the history and reputation of the property in order to make an informed decision. Every home has its own story, which can affect buyers and even the price of the property.