It was a 91裸聊视频渟tunning91裸聊视频 property in the heart of downtown Toronto, but for broker Caroline Baile it was a tough sell.
That91裸聊视频檚 because the home had been the site of a recent murder, a domestic dispute turned fatal. Baile would tell potential buyers about the tragic death that took place, but the property91裸聊视频檚 story was already well known thanks to intense media coverage of the crime.
91裸聊视频淚t was challenging to sell it,91裸聊视频 she said, not wanting to go into too much detail to protect client privacy. 91裸聊视频淪o we ended up leasing it to cover carrying costs.91裸聊视频
The renters were aware of the property91裸聊视频檚 history and once the media attention subsided, the property was sold.
But for some people, the knowledge that a murder took place in a home is enough to make them walk away from a purchase 91裸聊视频 even if it is at a steep discount in a hot market.
That is, for those who are aware that something happened.
While there are rules requiring disclosure of issues concerning a property such as defect like a hole in a roof or mould, for non-physical problems such as violent crime, the law largely says 91裸聊视频渃aveat emptor91裸聊视频 or buyer beware, said Alan Silverstein, an Ontario-based real estate lawyer.
Quebec does have a law that requires sellers to disclose when a person has died an unnatural death on their property. But in other provinces, the guidelines are blurry.
91裸聊视频淎 murder is more psychological than factual91裸聊视频 When you get into the area of murder and suicides, natural causes, we don91裸聊视频檛 have clear rules,91裸聊视频 Silverstein said.
There are also differing guidelines for agents or sellers, he added.
MONEY MONITOR:
In Ontario, for example, the seller has no legal requirement to disclose a stigma such as murder and the onus is on the buyer and their realtor to find out.
However, real estate agents in the province have an ethical obligation to disclose the existence of stigmas, according to the Ontario Real Estate Association.
Agents are also required to tell potential buyers about these issues at the earliest possible convenience, said Barry Lebow, a Toronto realtor and expert on stigmatized properties.
91裸聊视频淵ou cannot disclose it at the table once there is an offer91裸聊视频. you don91裸聊视频檛 wait until the last minute, but that happens,91裸聊视频 he said.
If the agent or seller is asked a question, they cannot give a false answer, Silverstein said.
The former owner of a Vancouver mansion learned this lesson after the B.C. Supreme court ordered her to return a $300,000 deposit after a sale fell through because she didn91裸聊视频檛 tell the buyer about a suspected gang-related murder of her son-in-law at the front gate in 2007.
Feng Yun Shao reneged on her $6.1-million offer on the 9,000-square-foot mansion in 2009 just days after forwarding the deposit. The would-be buyer asked why they were selling and was told the owner had moved back to China and her daughter had moved to a location closer to her child91裸聊视频檚 school, according to court documents.
Neither the owner, her daughter or the realtor told Shao about the unsolved slaying, and the judge said she was the victim of a 91裸聊视频渇raudulent misrepresentation.91裸聊视频
Still, as homes change hands over the years, a property91裸聊视频檚 dark secrets don91裸聊视频檛 always get passed on.
91裸聊视频淚f the seller doesn91裸聊视频檛 know about something, it91裸聊视频檚 hard to hold them liable,91裸聊视频 Silverstein said.
Also, it91裸聊视频檚 unclear how far back in a property91裸聊视频檚 history must be disclosed. Some jurisdictions, such as California, stipulate the seller is obligated to disclose a death on a property if it occurred within the three years prior to the sale.
91裸聊视频淲e need some hard and fast rules,91裸聊视频 Silverstein said.
Buyers who are uncomfortable with living in a home where a violent crime took place should do extensive research on any property that catches their eye. In addition to the obvious online address searches, potential buyers should also ask their would-be neighbours for information about the home, said Silverstein.
Another thing to look for is a line in the listing that asks potential buyers to call the listing agent before preparing an offer, said Toronto realtor David Fleming.
91裸聊视频淚t could mean something big or it could mean something small91裸聊视频 When you see something like that, it usually means that there is a catch and they don91裸聊视频檛 want to put it in a listing,91裸聊视频 he said.
Buyers can also add a clause that the sellers acknowledge that to the best of their knowledge there hasn91裸聊视频檛 been a murder or suicide in the home.
Sandra Pike, a realtor based in Halifax, said most agents in the region add in this caveat stipulating that the property has not been stigmatized by things such as murder, suicide or illegal drug cultivation.
91裸聊视频淵ou wouldn91裸聊视频檛 want to be dishonest and not bring that up91裸聊视频 If it comes back and bites you, it91裸聊视频檚 not worth it,91裸聊视频 she said.
Some homes may never shake off the stigma, no matter how much time passes. The St. Catharines, Ont. home where convicted killer Paul Bernardo and his former wife Karla Homolka raped and murdered two teen girls was torn down in 1995.
Even in high-profile cases, there are some people who aren91裸聊视频檛 deterred, said Barry Cohen, a Toronto-based luxury property realtor.
The unsolved murders of Apotex Inc. founder Barry Sherman and his wife Honey at their mansion in northern Toronto has not hurt the sale prospects for nearby homes that he is representing, as most see it as an isolated incident and not a reflection of the neighbourhood, Cohen said.
As well, while the Shermans91裸聊视频 home is not currently on the market, Cohen said there is buyer interest.
91裸聊视频淭he client would buy it as is.91裸聊视频
The Canadian Press
Like us on and follow us on .