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Architecture Guide
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Take a Quiz
30 under 30
Young Professionals
REALTOR® Emeritus |  |  | | ||
|  Developing a Property Marketing Plan Listing and Marketing Checklist Marketing Media To Consider Advanced tip Property Advertising Techniques Advanced tip Advanced: Getting the Most from Your Advertising Dollars Online Property Marketing Advanced tip Conducting Open Houses Advanced tip Advanced tip Alternative Selling Options Advanced tip Complying with Fair Housing Broker tip Property Disclosure Broker tip Common Property Hazards Broker tip Advanced tip Property Marketing Quiz Bright Ideas: Property Marketing More Resources: Property Marketing Code of Ethics: Property Marketing Vendor Resources: Property Marketing | PROPERTY DISCLOSURE Stigmatized Properties In addition to physical defects, some properties have unusual features or histories that may negatively affect the value or salability of the property. For example, if a murder took place at the home, the stigma of that event may prompt some buyers to be unwilling to buy the property. Some state laws explicitly relieve the salesperson or broker of the obligation to disclose certain property stigmas. Where that is not the case, failing to disclose a stigma presents a risk of later charges of misrepresentation. When selling a stigmatized property, remember to:
TIP: Persons with AIDS or who are HIV positive are protected under federal fair housing laws. For this reason, the U.S. Department of Housing and Urban Development has declared it illegal to disclose that the current or former occupant of a property had AIDS or was HIV positive. In Property Disclosures: What You Need to Know Training Kit, (At the REALTOR.org Store, use the search function to bring up the title.) the NATIONAL ASSOCIATION OF REALTORS® suggests that if you are asked a direct question on this subject, you can inform the buyers that by answering you might be in violation of the federal fair housing laws and that if they wish to pursue the question, they must investigate on their own.
For a guide on how do deal with stigmatized properties, visit REALTOR.org . Common Property Hazards, next page > Note: This information provides general legal information and should not be relied upon as legal guidance. Before acting, both the relevant laws and legal counsel should be consulted. This information should not be construed as specific legal advice nor as an opinion on particular facts, cases, or situations. | |