Rental Property Investor · Houston, TX · Member since 2018 · 37 posts · 12 votes
I apologize IF this comes across as being morbid. I am curious on the selling or rental aspects for 2 potential properties with a little history.
I was given the opportunity to purchase 2 homes (1 last year, the other pending) I happen to know the families of the previous owners. The owners of both estates passed away (in the home), which resulted in the family members taking ownership. I purchased the 1st home last year and have done little to the property since purchase. Both properties were built in 2004 and their conditions are very good.
The owner of the 2nd property recently passed away and I (by chance) happened to meet the daughter. During our conversation, I inquired about possible purchase, which she is eager to sell.
Has anyone ever experienced difficulties selling or leasing a property where previous owners pass away in the home? How do you overcome that one bit of detail??
Again, I apologize IF this comes across as morbid.
Rental Property Investor · Wormleysburg, PA · Member since 2018 · 20 posts · 16 votes
7y
One of my businesses is delivering medical equipment to hospice patients. Patients passing in their house or a family members house is normal. It happens all the time. Especially with hospice. They just want to be at home when the time comes. I don't think it would really matter much unless it is a crime scene or something like that.
Baltimore, MD · Member since 2019 · 80 posts · 47 votes
7y
@, no the house doesn't lose value if a death occurs on the property. I know this is a disclosure that real estate agents cannot share with future buyers. So, the value of the home will be determined based on the comparables in the area the house is in.