With Halloween just around the corner, it’s time to focus on the spooks that go bump in the night. Creaky floor boards, noises, and the feeling of someone watching you as well as apparitions and objects moving by themselves are just a few of the things that are associated with haunted houses. Whether you believe in ghouls or not, TV and movies are full of stories full of people moving into haunted houses. Here’s a few tips on how to protect yourself when buying or selling a house with paranormal activity.
According to The Northwest Herald
From a real estate perspective, it’s quite a simple situation. The Illinois Real Estate License Act doesn’t require the seller to disclose such oddities. In other words, as long as issues don’t physically affect the house, the seller isn’t obligated to disclose the existence of paranormal activities on the property.
The thought is if there really are ghostly presences, those entities aren’t creating issues with the structure of the home, such as the furnace or plumbing still working properly.
While this is good news for sellers, it means the buyer must beware. Another stipulation states that anything in public domain doesn’t need to be reported. This includes deaths or murders on the property as well as any paranormal activity. If it’s been in the news, then it is assumed the buyer can find the information themselves, and should before buying a home.
However, if a buyer experiences undisclosed paranormal activity they can file a lawsuit (though this is time consuming and costly with no guarantee that you will win.) This is why it is advised for sellers to report that there has paranormal activity and have the buyer sign a waiver stating that they have been aware prior to the purchase.
Agents sometimes might direct their clients to the source of the information for their client to investigate on their own. Because of liability issues, agents expressly are instructed not to be the source of the information but rather “the source of the source.” Agents in this role tell clients where they might go to find the information, if the agent knows where to look. But if your agent is unaware or doesn’t believe in the paranormal, they may not be so helpful.
This holds true for many things related to property deals. If a highway is planned to be built on an adjoining property, and the road project is reported in the media, a seller may not be required to disclose the information. It is always best to discuss anything that may affect the property’s value or sale-ability with your real estate agent or legal counsel before listing the property. For more information on what should be disclosed to a buyer, call Helen today at 847.967.0022 or email [email protected] and have a Happy Halloween!