A potential buyer may be satisfied with the condition and location of a home, but they may avoid purchasing it because of an event or circumstance occurring in or near the property. Perhaps the home was the site of a suicide or there’s a known party house next door. These are examples of a stigma, which can affect market value and makes the home harder sell. The significance of the stigma is impossible to determine, as it will vary with a buyer’s values, perceptions and beliefs. That’s why in BC a seller is not required to independently disclose a stigma. However, disclosure is required if a potential buyer asks about a specific situation. For instance, if the seller knows there was a suicide in the home they do not need to independently disclose. But if the buyer asks about it, then the seller must disclose what they know. Do you have real estate questions? We have real estate answers. Call US FIRST!
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