OurBroker Logo
Have A Real Estate Question?  Please Press Here.
Saudi Family Takes Genie To Court : Mortgage Loans, Rates, Home Buying, Selling, Foreclosures

Saudi Family Takes Genie To Court

feature photo

I’m not sure how this is going to work out, but a family is Saudi Arabia is taking a genie to court, alleging that the spook engaged in theft and harassment, according to CNN.

It’s just a guess, but I suspect that it will be terribly difficult to serve a subpoena….

I know of no similar case in the U.S., but before we laugh at folks overseas it might be good to consider that we DO recognize that ghosts, goblins, genies and whatever impact real estate values. If you have a haunted house — what we call stigmatized property — you must tell any would-be home buyers in some states. And while some potential purchasers may find the possible presence of a ghost attractive, others may not.

With a stigmatized property there may be no worries about the physical condition of the house, instead the concern is with psychologically impacted homes. Some states have regulations which say what must be said or not said when homes are stigmatized.

The concept of stigmatized property is defined differently depending on the jurisdiction where the property is located and can include a requirement to inform buyers if the property has been the scene of a murder, a suicide or maybe it has been haunted. There may be a time limit — say no requirement to tell about a suicide from three years ago. If you have a property where such events have occurred you need to speak with a knowledgeable real estate broker or attorney to find out what must be disclosed and what can be kept quiet.

While some buyers may shy away from such properties, a good ghost story might well be an attractive selling point for more-adventuresome purchasers.

Print Friendly
Be Sociable, Share!

Technorati Tags: disclose, ghosts, haunt, murder, property, stigmatize, suicide


Related Links

Post a Response

*