Home Buying in Baltimore>Question Details

Keyasplace, Home Buyer in Baltimore, MD

Will the murder of a homeowner inside the home being auctioned or sold affect either the auction price or the selling price of the home?

Asked by Keyasplace, Baltimore, MD Tue Dec 29, 2009

I'm interested in purchasing a home that is going up for auction in the next few weeks. The owners of the home were murdered inside the home, which is why the home is being foreclosed. Do you think the bank will drastically reduce the price due to the stigma of the murders or will it not affect the bottom line at all? The house was originally bought by the owners in 2007 for $950,000.

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First thought is YES, the properties value may be affected because of the murder HOWEVER the bank is certainly not obligated to lower their "reserve" price because of it. NOW, if the bank buys the property on auction day AND after ratification, etc. They will give it to a local agent to list the property. At this point, if it is a notable death, meaning, it has been in the newspapers and the public is aware of it, they are obligated to disclose that information. I have auctioned off thousands of properties in Maryland through foreclosure and never found myself entagled in the personal issues of WHY it went to foreclosure, etc. Hope this helps.

Robert McArtor, Long and Foster Real Estate, Inc.
Maryland HOMES Team
http://www.MarylandHOMESTeam.com/
Auction Website: http://www.MDAuctionSales.com/
0 votes Comment Flag Thu Dec 31, 2009
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