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October 31st, 2006 categories: Tampa Real Estate
Listening to a radio show the other day and the caller was discussing the fact that his house was haunted. This got me to thinking about how this might affect its value. Sellers of residential real estate are required to disclose to any prospective buyers anything about a home that may materially affect its value.
There was a woman in Nyack, New York who owned a home that she believed to be haunted by ghosts. In fact, on three occasions she had informed the public of the haunting in reports to Reader’s Digest and in newspapers where the home was featured on ads for a home tour.
But when it came time to sell, neither she nor her Realtor disclosed any such haunting. She found a buyer for the home who was from out of town and not aware of the reputation of the home as being haunted. But once he realized that he was purchasing a home that was widely and publicly regarded as haunted, he wanted out. (Hello Mr. Stambovsky. Welcome to Nyack. Aren’t you the guy buying the house with the ghosts?) And guess what? The Court ruled that the haunting should have been disclosed! He got his deposit back and was released from the deal.
The fact that everyone else seemed to know that this house had problems certainly affected the value of the home. Who wanted it? It was stigmatized!
 
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