|
Forums |
Finance |
For What It's Worth |
Selling a House With a Troubled Past
|
|
|
|
|
|
blog article
articles
article
body
 Recently, a murder-suicide took place in a lovely home in an affluent neighborhood in my small Bucks County, Pa., community. The victim was shot in or near the garage, presumably trying to leave the house, and the suicide took place in the master bedroom, where the shooter turned a gun on himself. The couple's cleaning woman came upon the horrible scene when arriving at the home in the morning.
I couldn't help but wonder what would happen to the house, which was now stigmatized by the crime that took place there. The clean-up crews could come in and make everything like new, but there would be no erasing the violent death that took place on its premises.
I also couldn't help but wonder if the real-estate firm where I work would end up listing the property when the executor of the estate reached that point. How could I write the marketing copy and be sensitive to the situation?
What, if anything, is the listing agent legally obligated to say about the recent event? Will the house be priced below market value?
By chance, my company had listed two other properties where murders took place and they both sold, though that was during the boom market and both were discounted.
I spoke to an agent who represented the buyer of one of those properties, a condominium in New Hope, Pa. In that case, a husband shot his wife, then left the house and committed suicide in his car in the parking lot of a nearby shopping center. The agent told me his buyer, a single woman with a spiritual side, had no problem with the home's history. She paid about 10% under market value, “had a conversation” with the woman who had lived and died there and lit some candles to make peace with all that had happened. She told the agent all was going well with the house until she pulled up the kitchen's vinyl floor covering and found some dried blood on the subflooring.
The House Hits the Market
Two weeks ago, I received word that the newly "haunted" Bucks County home is indeed being listed with my company. The photo shoot will take place later this month. I spoke to our broker of record to find out what we legally are required to say about the crime that took place there, and the answer is: nothing, until a potential buyer begins to show interest. Then it is wise – though still not legally required – for the agent to explain the situation.
In the case of my community, it's so small that just about any other real-estate agent who might bring a buyer to see it would know the home's history anyway. That a heinous crime took place in the home clearly will not remain a secret, nor should it.
The listing agent had his first showing at the house late last week. The agent representing the buyers had explained what had happened in the house, and the couple said they already knew from news reports and it would not bother them. They loved the house, until they saw how much hardwood flooring had been replaced near the entrance to the garage. The remodeling in that area is not quite done, the listing agent explained, and the floors soon will be refinished so that the new pieces blend in perfectly with the original wood.
As for the home's listing price, it is discounted about 10 percent to 15 percent from what it likely would have been listed for under normal circumstances.
The bottom line: It's a bargain for the buyer who can focus on the future and make the house a happier place than it likely was for its previous owners.
If you could get a great deal, would you buy a home where a violent crime took place? Let us know what you think.
-- Valerie Patterson oversees all online and print marketing efforts at Kurfiss Sotheby's International Realty, a privately-owned real-estate firm based in the Philadelphia area. Prior to joining Kurfiss, she was the producer of The Wall Street Journal's free real-estate site, RealEstateJournal.com.
Message Edited by Val_A_Patterson on 05-20-2009 02:20 PM
|
|
|
|
