Would you buy a house that has recently had a murder taken place in it? Could you live in it? Could you rent it out? Does it affect it’s value?
NO ! absolutely not.
This certainly is buying a problem and creating the solution. I don’t believe I could live there if I knew. However if you are about investing for profit I would assume you could purchase the property at a reduced price and then if you make it over I would re sell or perhaps rent out for 1 year then resell. Of course the neighbours would know the horror but maybe you would attract a buyer from another area. This one is more a challenge of your moral values.
Good luck!Absolutely no way.
I personally could not live in a place like that and if I couldnt Id find it very hard (and immoral) putting a tenant in that position. But I guess if you disclose it and the rent your going to ask for takes this into consideration there maybe people out there that would be comfortable with the ‘history’ and would appreciate the lower rent.
I remember hearing about an RE that sold a house quite recently in Sydney that had has a similar history. Caused alot of controversy as they didnt disclose the history at the point of sale. Not sure what happened to the RE.
I actually found out about the murder by talking to the neighbour while waiting for the RE agent to show up, He didn’t mention the fact. When I confronted him about it he claimed he didn’t have to disclose that it had been a murder just a deceased estate, unless we asked specifically about it.
I feel I would definitely tell the tenant about it. Reduced rent is better than them finding out and then vacating. Plus as you say it is just the morally correct thing to do.I understand your concerns but i dont think it is a moral issue. you would not be trying to cover a structural fault/termites or anything like that. most properties of a few decades of age would have some sort of ‘history’, be that murder, abuse, drugs or maybe just someone with a screw loose!! it does not make the property any less ‘liveable’
think of all the houses on the market with ‘real’ concerns that have been hidden from the potential buyers?? that is the moral concern.
which would you prefer to find out about the house you have just bought? a bad history or structurally unsound??Good point troy. It’s just that this is very recent. After a couple of years then like you say, every house probably has some ‘history’.
If you do purchase one as a rental property (I wouldn’t personally), you must absolutely disclose its history to the tenant, otherwise you are decieving them into something that they will persieve as normal when it isnt!
You have to also (by law) disclose the information to any potential purchasers in the future, which could reduce the property’s sale price!
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