..Would This Worry You..

I'm helping one of our daughters start investing in property..I have several target area's outside the BCC-footprint looked at about ten properties so far-6 were in serious flood zones..Then a simple 5 minute call from a mate who went to a auction last week this morning about a property that was passed in no bids-mainly because the title holder finished her life in the front seat of her car in the garage..
So is the question is would buying something like this worry you?..
Property is a 2 level 3 bed 2 bath townhouse small courtyard excellent paint fitt--off --7klm's from the Brisbane CBD,walking distance to trains ,price which is over 60k less then the last sale in the block or listed for sale..

We are going over in about 2 hours,the agent after about 20 minutes opened up,only one person in the will-they want it sold asap,and the price that the one person wants over 50k less the the listed price in the same complex..

Daughter does not like the idea,but all i can do is walk in with her and if it feels not right walk out and keep looking..

 

Would it work if your daughter gets there and doesn't mind the feel of the place and
she buys it as an OO with all the $$ benefits of OO. She then waits a while and flips to an unsuspecting "investor" from a different state?

 

Does it need to be disclosed to tenants or future owners? Suicide is not a violent / serious crime but depends on state legislation. Would not deter me one bit.

 

I haven't been in the current situation of considering to purchase a property where it happened. However as @DaveM mentions there isn't a reason to disclose this I would imagine so yes you might know of it now but you don't need to disclose it.

Also if someone had died on the property how far back is it of concern? What if they died naturally? What if they were murdered by a spear before the English came? What if the English killed a native on our land where we have since purchased?

I would think it wouldn't impact my decision to purchase but I would likely use it to negotiate from the current vendor but it would no longer be discussed in the future and soon it would be likely forgotten. In 5, 10, 20 years time is it still relevant?

 

no.

It is a sad event for sure, but not enough to stop me....depends a lot on what things you have experienced and been exposed to in your own life too, I guess.

Someone will eventually buy it; may as well be you.

 

I wouldn't buy it. The fact you are wondering about it means others will too when your daughter comes to selling it.

It will always be "below market value".

 

Not sure of any time limit, but she would probably have to disclose.
And would YOU want to be the "unsuspecting investor"??
And I don't know if you would have to disclose to tenants, some people take these things very seriously, as in the successful nsw court case where deaths were not disclosed.
Marg

 

50K paper equity from day 1. If you plan to hold a while, by the time you go to sell the rumours and stories will likely have gone as people move away over time.

Drawn down on the 50k and off you go again. Dont let wishy washy mysticism and peoples perceptions/superstitions affect what should be a simple decision. Millions of people have died in houses across the country, some not of natural causes. Next.

 

What about in say; 10 years time or even 20 years time?

 

Exactly my thinking.
Short term opportunity,
Similar to capitalising on an unloved blue chip share.

 

Someone died... wow. First Ive ever heard of this "death" thing? Is it widely known that people die? It could be really off putting for some people if they first learn of death after viewing your property.

Plus not only has someone died. Whose to say, besides all scientific evidence, that the dead person isnt going to turn into some sort of ghost monster spirit and attack the new occupants?

I would probably look at buying in a better socio economic area where people never die.

 

Id be more bothered by where the previous owners of the house had sex. If you have to disclose to new occupants where there might have been spilt blood, then I vote disclosing where all bodily fluids may still be in the house.

"God I really love this room"
* "I need to quickly disclose to you that this is where the previous owners twins had violent diarrhea for a week."

"Oh this room is so nice it can be the babies new room"
*"I need to quickly disclose to you that this is where the previous owner accidentally walked in and caught their son masturbating".

 

So 0 years you wouldn't buy/rent it but 100 years it is a yes.

What about 50 years?
20?
10?
79?
95?

 

If there is a ghost, might be able to charge for ghost tours - nice little money earner on the side.

 

As a side note, I own a property where I found out after purchase that a tenant was murdered in it by her partner. Doesnt bother me one bit, I spent time there renovating and had no run-ins with white sheet clad apparitions

 

Yes it might be always 'BMV' but as time goes it becomes less 'BMV' as less knowledge of it.

Buying today it is fresh so the discount will be greater than in 10 years when there might not be any stigma or in 50 years I highly doubt it will be even mentioned.

There was a house just up the road from where I live where the father dressed his daughter up as an angel and then killed her. Whilst the mother and her parents were in the lounge room... Horrible stuff, this happened about 2-3 years ago, if you asked me which house I wouldn't be able to point it out or recall the house number. This is how quickly people forget things.

 

More than that. You could prove something supernatural and claim millions in prize money from atheist organisations who offer the money for proof of anything supernatural. Strangely enough no claims have ever been successful when examined with scientific standards...weird...