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If you’ve ever sold a home, you’ve likely been made aware that you have to disclose any physical issues with your house, including a cracked foundation, pests, any health hazards like lead paint, and property damage issues.
You may even know that you have to disclose what’s known as “emotional defects” with the home, including any murders, suicides, or violent crimes that may have happened on the property.
But, did you know that you have to disclose any paranormal activity, too?
A 1991 case in the New York Supreme Court, Appellate Division, known as Stambovsky v. Ackley (commonly known as the “Ghostbusters” decision), held that a home, whose owner had previously advertised to the public that it was haunted by ghosts, was legally haunted for the purposes of an action for cancelation brought by a subsequent buyer of the house.
Read more: How Scary Is The Housing Market? High Mortgage Rates, Low Builder Confidence Have Buyers Spooked
Therefore, whether you believe in ghosts or not, it may be smart to cover all of your bases as a possible seller (or buyer) – here’s how you’d do that.
First, if you’re spooked away from the housing market due to high interest rates and low affordability, Benzinga has you covered. Did you know you can invest in rental properties for as little as $100 and make passive income? Check this out, it really works.
Do your research on your state’s disclosure laws as a seller.
The requirements for what sellers must tell buyers differ by state. Sometimes you’ll learn everything there is to know about a house’s past, but there’s also a risk you might not.
Do independent research on the property as a buyer.
Check historical documents and newspaper clippings to discover if any deaths that you should be aware of occurred at that house. Find out if the house was built on a former battleground or an old burial site by researching the land on which the house exists.
As a buyer, talk to the neighbors.
Neighbors typically get the inside scoop on everything going on in the area, including any tales about a nearby haunted house.
As a buyer, check the buy, sell, and repair history of the house.
The buy and sell history of the house is another item that could provide some intriguing hints about its background.
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Image and article originally from www.benzinga.com. Read the original article here.