Home Buying in 43160>Question Details

Sue Duffy, Other/Just Looking in 28166

Trying to buy a house but it has a graveyard behind it will hurt the property value much?

Asked by Sue Duffy, 28166 Tue Feb 1, 2011

The house needs a lot of work . It has a well and septic tank I went to health department to check things out and they have no records of it. The house was built in 1970. It is a, as is property and has a wall in the kitchen with a bulge in it and the floors are uneven or the carpet is bad. The out side looks great. Can I get my own inspector to look at everything or do I have to let a bank choose one?

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Hi Sue, Mack is correct again.

The rehabbing of the home, sure that can go just fine and the house can look great. But keep in mind thta the cemetary will NOT go away. This will always be there, so keep that in your thoughts if you move forward and realize that you will need to find that person that does not mind the graveyard.

You ask questions about the inspections and such, I am guessing this is a short sale or foreclosure?
Do you have an agent? has your agent advised you to have the inspections? IS the house "as-is" if so you can still do the inspections, but they are for your research purposes only..

Either way - Good Luck!

John Sacktig
Broker / Manager
Orange Key Realty
2 votes Thank Flag Link Tue Feb 1, 2011
Sure it will.

But look at it this way, Sue - it's going to have to be a great buy, but it may be a great buy for you now; you'll just have to make it a great buy for the next person.

Similarly - you can buy a much more modest place in a better location for the same money, and it will always be a modest place for the money.

The problem with rehabbing properties in bad locations is that materials and labor cost the same regardless of the location of the property; perhaps it would be more cost-effective for someone to knock this baby down and put up something new.

All the best,
2 votes Thank Flag Link Tue Feb 1, 2011
There was a home for sale next to a graveyard, everytime I showed it the buyer did not want to enter the home. After a while it was for rent, same thing, it sat there vacant for some time. I find more buyers perfer not to be by a graveyard. On the other hand you only need one buyer when it's time to sell it.
Always get an inspector, also have the contractor who will be doing the work look at it.
0 votes Thank Flag Link Tue Feb 1, 2011
Hi Sue,

I, myself, do think it will hurt the value of the property. The very concept of a property value can be summed up in three words...Location, location, location.

A property by a graveyard will most definitely have geographic sufferance. Will the same home down the street sell for more? If anyone thinks it will then that's the answer.

If it is causing you to question it, it will cause the next buyer to question it also.

Just my humble opinion...

Jonas Mancuso
Remax / Lakeland
0 votes Thank Flag Link Tue Feb 1, 2011
You should get your own inspectors, Most buyers get their own inspectors and for a general inspection usually between 250-450. May want to also have a structural engineer look at it. . However if you were working with a realtor they would supply you with a list of inspectors that are reputable and they have done business with in the past. Definately have an inspection.
0 votes Thank Flag Link Tue Feb 1, 2011
The graveyard issue won't hurt as much as the lack of permits, and any potential structural issues. I do know one one house that abuts a graveyard (street is cul de sac into graveyard) and has not sold. There's no reason it hasn't sold as it's a decent house with cosmetic issues. So I am beginning to think the graveyard is keeping away some buyers.
0 votes Thank Flag Link Tue Feb 1, 2011
You should hv a Realtor,but You get your own inspector(one that knows construction,etc..)good luck
0 votes Thank Flag Link Tue Feb 1, 2011
It might not hurt the property "VALUE", but in my experience is will slow a sale down a lot and force the owner to lower the price to make it sell. It sounds like the other issues will also make the property difficult to sell at market value. Banks don't hire inspectors, you do. The bank will hire an appraiser to get a value on the property based on recent sales for similar properties.
0 votes Thank Flag Link Tue Feb 1, 2011
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