Some homes in great physical condition are rejected because they are known to be haunted or a murder or a suicide took place there. Any property listed for sale that has experienced any negative event might face marketing issues.
In Canada, the law for buying a home is generally accepted as "caveat emptor" let the buyer beware. Of course, making misrepresentations or hiding material defects is a different story. Apparently, the seller doesn't have to disclose any information about murders, suicides or anything negative that might have occurred in the house. However, real estate sales representatives are governed by the rules and regulations enforced by the Real Estate Council of Ontario. In Ontario, real estate sales representatives are required to disclose any "material fact" that could affect the value of the property or the buyer's decision to purchase the property. Real estate sales representatives should always disclose things that they would want to know if they were purchasing a home. It's always a good idea for the real estate sales representative to disclose the facts of a listed property.
Would you buy a stigmatized home?
In Canada, the law for buying a home is generally accepted as "caveat emptor" let the buyer beware. Of course, making misrepresentations or hiding material defects is a different story. Apparently, the seller doesn't have to disclose any information about murders, suicides or anything negative that might have occurred in the house. However, real estate sales representatives are governed by the rules and regulations enforced by the Real Estate Council of Ontario. In Ontario, real estate sales representatives are required to disclose any "material fact" that could affect the value of the property or the buyer's decision to purchase the property. Real estate sales representatives should always disclose things that they would want to know if they were purchasing a home. It's always a good idea for the real estate sales representative to disclose the facts of a listed property.
Would you buy a stigmatized home?
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