My family saw this house near very good school district and reasonable price. My realtor told me an elderly passed away in the house due to illness. She was found out the same days she passed away (not few days later or few weeks later) It is not murder or suicide. Will it affect the resale value of the house cause I know some culture or certain ethnic buyers will not like that.
As you will likely be selling the property more than 3 years after the mentioned death, you have no issue as there will be nothing to legally disclose.
I sold the family home that had been built by my grandfather in the 40's and in that my mother had recently passed away in due to natural causes. Not only was it a non-issue for non-Asians, I was told by many, including the eventual Buyer, that they considered it a blessing for the home because of the love and peace that surrounded a person passing in their own home! I agree completely with that assessment.
Marston Myers
I agree with Dave's response. Certain cultures will not buy a house or in a neighborhood if they know that the owner died in the house or if the house was built on an old burial ground, etc. I think it is a matter of preference. If you are worried about ghosts or spirits, you can have an "exorcism" done. I know it sounds far fetched, but people do have them performed.
You are right that certain cultures do not want to buy a home in which someone has died. The only way that affects resale is by (slightly) reducing the number of potential buyers. It should not affect the price. In addition,
the seller's obligation to disclose a death in the home to a buyer only covers the previous three years. So if the sale is more than three years after the purchase, there should be no effect.
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