A haunted house can actually sell for a lot of money, depending on the historical significance and general upkeep. An example of this is the Amityville Horror House which was put on the market in 2010 for $1.15 million and sold in less than three months. However, there are some homeowners who find it hard to sell their house that has some uninvited guests.
Wright State University conducted a study in 2000 and found that haunted properties were on the market for around 64% longer than a comparable non-haunted house. With the current housing market increasing the time to sell by around 117 days, this could mean that a haunted house will take around 6 months to sell. Fortunately, there are a number of tips that you can try to avoid this frightening selling prospect.
Look At State Laws
If you really believe that your house is haunted, you should look into the state laws before disregarding your beliefs. More than 20 states across the US require that all parties associated in the sale of a house disclose information about its past. Information about fire, mold and any ghostly happenings will also need to be disclosed. If you fail to adhere to this, you could face a lawsuit as some people would not buy the house if they knew about this.
Getting Rid Of The Ghosts
If you have a hard time selling a house fast, as it’s haunted you might want to consider ways of making it a bit less spooky. There are times when fixing the yard or putting a new coat of paint on the exterior will do the job. However, if that fails, you should look at ways to get rid of the ghost and try calling a medium to clear out the space.
There are people who devote their time to ridding properties of their otherworldly residents. Thanks to these services, there are a lot of homeowners who have struggled to sell their homes who receive offers in a matter of days.
Consider The Selling Options
A report by Reuters found that haunted homes will usually sell for 10% to 20% less than a comparable home in the same area. However, depending on the prospective buyers, your haunted house might actually be in demand. Halloween enthusiasts and ghost hunters have been known to offer more than the asking price for homes that have a supernatural past.
There are also investors that look at buying a haunted house in the hopes of gutting it and building new. They would then be able to resell the property for a larger profit. There are also some adventurous entrepreneurs who look at these properties so they can transform them into a restaurant, B&B or local business that attracts curious visitors.
Consider Mortgage Plans
Potential buyers may be relieved to find out that haunted homes are not very different from standard homes when it comes to their financing options. If the property is going to be used for a business, the potential buyer should look at a small business loan. However, if the house is going to be flipped, an investment property mortgage will be the better option.
If the house will be used for normal living only, a regular mortgage plan can be used for the purchase. The important thing to remember is that most haunted houses will be deemed historical and there are many that are over 100 years old. This means that you need to have the house evaluated and a home inspection report generated.
