With this in mind, it can depend on whether or not the information is known, and how much it affects the potential buyer's perception of the home's value. Human emotion is involved, so there is not a specific answer to this question. For example, a couple with no children could be willing to pay more than a couple with children.
Whether or not you choose to openly disclose could be up to you depending on the state you are in. As an agent, I hit this scenario once before. The sellers made me aware before listing, and I asked them whether or not they would disclose. They elected not to disclose and I elected not to list the home. Once again, human emotion was involved and no amount of commission could override it.
I have answered this question in the best way I can. I wish the best for you in your given situation.
It will not have as much impact of price as it will on salability. There are many who do not care if a sexual offender lives close by, and there are many more that will never check the offender database. On the other hand, some will not buy for obvious reasons. It effectively limits your pool of buyers, but may not affect your price.
As for disclosing that there is an offender nearby, you have to be very careful â€“ improper disclosure can be a form of slander and could place you in a precarious legal position. The purchase agreement clearly states (Section 6. D.) that a buyer has a right to check the local Meganâ€™s Law Database. It reads as follows:
â€œMegan's Law Database Disclosure: The sale is not exempt from the requirement that residential sales contracts contain the following notice regarding the availability of information about registered sex offenders: "Notice: Pursuant to Section 290.46 of the Penal Code, information about specified registered sex offenders is made available to the public via an Internet Web site maintained by the Department of Justice at http://www.meganslaw.ca.gov. Depending on an offender's criminal history, this information will include either the address at which the offender resides or the community of residence and ZIP Code in which he or she resides." (Neither Seller nor Brokers are required to check this website. If Buyer wants further information, Broker recommends that Buyer obtain information from this website during Buyer's inspection contingency period. Brokers do not have expertise in this area.)â€
This paragraph in and of itself is considered by many to be adequate disclosure.
If you have questions about the level of disclosure you must legally provide, contact a local real estate attorney (your broker can probably provide you access to the attorney they have on retainer) to verify your obligations.
This is a very emotionally charged postion, especially in the light of Chelsea and Amber in our San Diego communities.
I hope this helps.
This is a very valid concern, and it is very hard to determine how much of an impact it could have on your home. One way of thinking about it is that with this happening you're property will not be appealing anymore to the family oriented buyer. Obviously, people with kids are more influenced into looking at registered sex offender websites as a determinant on the house they are going to buy. It all depends on what type of buyers is your neighborhood more appealing to, because as you can see, more family oriented buyers will not want to buy your home.
In other words; what percent of the market could be made up of family buyers that are looking in your neighborhood. The higher the number, the more it can impact the value.
As a broad Example: There are more "Family oriented buyers" that want to buy in the Poway school District (having good schools), than to buy in Pacific Beach or Downtown (more of a Social Neighborhood).
I know you were probably looking for an exact answer, but I hope this helps.
If you or your family is ever victimized by a sex offender, much less one next door to you, you will change your tune!
It all comes down to the buyer. No one can really say for certain how much you home value will decrease. Of course since you know this information, you must disclose it to the buyer. It is just not a good situation. I am willing to bet that most home buyers will not like that your neighbor is a registered offender even if they have, will have kids or do not have kids. The reality is that home buyers may skip on purchasing a home for something as silly as the color of the carpet. How do you think they will feel about your neighbor? A top priority for home buyers is safety. Good luck.
As you live in Carlsbad 92010, you have good schools which attract buyers with kids, but you also have a lot of potential buyers who may not have children. Since you may have lost half your buyers who would be concerned or aware of your neighbor, I would stick my neck out on a limb and say the loss of value is between 0 and 5%. You'd be suprised what buyers overcome if they know they are saving $25,000! At 10% below value, you would have a bunch of investors wanting the propertye regardless of who is the neighbor since they won't be living there themselves. But I doubt you would have to drop your price that much to find a buyer.
The hard part is trying to explain to you how the potential value of your home may have been affected, over night, due to a particular individual's past record; staying neutral on this point can be difficult. Bottom line, many home buyers will probably have a problem with it, and some will be ok with it. Unfortunately as a Realtor Iâ€™m not at liberty to attempt to guess as to how it might affect your homes value. It does sound like youâ€™ll be doing the ethical thing in disclosing this information to any new buyer, and for that I commend you; as a Realtor having to face this type of disclosure scenario with a home seller, I certainly appreciate you.
I'm going to have to refer you to a couple of websites that I hope can shed a little light on the disclosure responsibilities of home sellers. So here we go, http://sexualoffenders.com/, or http://www.meganslaw.ca.gov/facts.htm should be able to shed a little light on this topic for you.
I hope this information helps you.
I have had this happen to a condo I was selling in the bay area over 8 years ago. During the transaction the buyer became aware from the meganslaw database that a sex offender was living right next door. He cancelled the contract and did not purchase the home. However another gentleman did that wasn't planning on having kids.
That is why in California we have these databases and everyone should check before they purchase. It is the responsiblity of the buyer to do due diligence.
Sorry for your situation, maybe he will move.