Stigmatized properties can be a Trick or a Treat depending on if you are selling or buying.
Many people do not know that if a death happens in or on a property it does not have to be disclosed by the seller or sellers agent in Michigan and most other states. 
The reason? The death natural or otherwise reduces the number of buyers when disclosed. This in turn reduces the sell price the subject property and all properties in the vicinity.
So, the ruling was to help stabilize prices when a death occurs. If you do find this issue you may be able to use it to your clients advantage because of the sellers own worrie
s about selling the property and get a great buy!
A simple rule that I have adopted when acting as a selling agent....interview the neighbors about the property. Ask questions to give you a clear picture of the property and the sellers. Neighbors always spill the beans!
Neighbors...anyway some of them love to tell you the juicy stuff.
Ask simple concise un-intrusive questions....and let the neighbor talk. Sometimes you have to cut the conversation shot you could be there a long time!
•· Why are they sellers moving?
•· Did they buy another home?
•· How do their children feel about moving....only ask this if they have obvious signs of children. You might find out they hated the school system!
•· Do you know of anything wrong with the house...anybody die....laugh after delivering this question....If they say, How did you know?" You hit the jackpot. Sometimes you will find out about water in the basement, heating bills through the roof or termite infestations....you'll be surprise.
Then again you will be equally happy to know that nothing is out of the ordinary and the house is simply a Treat for your buyers!
So what do you think? Is a Stigmatized Property a Trick or Treat?
Live in Grand Rapids or West Michigan area, not under contract? Like to sell or buy a home....give me a call. It could save you thousands in your next real estate transaction. Always confidential, Never Pressured.
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Hi Gary:
Of course, some caution needs to be taken when speaking with neighbors..
But overall, that's a great idea.
And let's not forget, creating relationships with the neighbors help in future listings as well.