First of all, Happy Halloween! After a fun weekend here in the Valley of the Sun, we thought we’d use this holiday to quickly discuss talk about stigmatized properties. And the topic of death in particular.
In short, a stigmatized property is one that has not had a physical change or impact but instead is a property that has been “psychologically impacted”. Events such as homicides, suicides, or death can cause such a stigmatization. There many are other factors that can cause stigmatization but for Halloween we’re sticking to death.
The bottom line is that with nothing tangible, stigmatization can effect a property’s resale value.
Do sellers have to disclose if someone died in the property they want to lost for sale? Only if the house was responsible for someone dying (mold, faulty staircases, etc.). Per Arizona stigmatized property laws, sellers, landlords, and Realtors don’t have to disclose that a natural death, a suicide, or a homicide has happened in their property.
No. Just as the items mentioned above, a prospective home seller does not have to disclose they’re selling a home because they’re concerned it’s haunted.
Hope that helps. Enjoy your Halloween. Muhahaaaa.
Also Read: Interesting Tidbits About The Current Local Real Estate Market