A friend of mine is buying rental property in Scottsdale and Mesa Arizona. One of the properties is priced so low I had to ask him what was wrong with it. He told me that there had been a death in the house and that the realtor was required by law to disclose that. I new from my mother having been a realtor in California more than 10 years ago that violent deaths had to be disclosed. But the deceased in this house in Arizona died of natural causes. Does that really have to be disclosed as well?
Jim - I have a condo in the Ahwatukee area of Phoenix (south of South Mountain). It’s a get away condo for my wife and I…we live full time in CT. When we are down there visiting we always like to see open houses…because we always have our eyes open for another property. Anyway, we were at one open house in the same neighborhood. The place was a 1900 sqft home, spanish roofing tiled, pool etc…etc… fo 137k. so we naturally checked it out. Seems the same thing was true the realtor said there was a violent crime in the house and that it had been completely redone to sell…hazmat and the whole nine yards. So…initially we were turned away from the property…but to tell you the truth, had we been full time residents down there, we would have bought the property no question and turned it into a rental. So people are still interested in properties…even if they have a less than cheery history.