When referring to residential real estate, a stigmatized property can best be described as a property with a notorious background. Something profoundly negative or grave has occurred in the home sometime in the past, thus it carries a “stigma.” When this is the situation, it becomes a disclosure. While it is “caveat emptor” – buyer beware – when purchasing a home, many court decisions have ruled on the side of the buyer’s right to know when there has been a grey area.
Examples of a stigmatized property would be a home where a murder or tragic incident has taken place, such as a family succumbed to carbon monoxide. It may also include properties that were homes of infamous people, criminals or debtors. Then there are those homes that have had paranormal activity. Yes, there are people who are drawn to such homes and want to own them, but the majority of buyers do not.
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