Industry Interview: Roy Condrey, Founder DiedInHouse.com
The idea came about when a tenant of mine texted me in the middle of the night stating, “Do you know your house is haunted?” I did not know it’s history, so I started researching online.
I was looking for a “CarFax” for homes if you will, a DiedinHouse.com and I did not find such a site.
Doing a Google search, I found pages and pages people asking my same question.
The advice I found was to ask the agent, seller, neighbors, check online and with local government agencies. I discovered that process is easier said than done and not to mention very time consuming.
I discovered that most states do not consider a death in a home to be a material defect, therefore, it is not required to be disclosed.
I also found many stories of home buyers that are now uncomfortable in their new homes because they learned after moving in that a death occurred in the home and it was not disclosed to them.
I learned that in most cases after a tragic death occurs the house is listed for comparable values of other homes in the area. If the home does not sell to an unsuspecting buyer or an informed buyer who does not care (which is rare) then it usually is tiered down in pricing and finally reaches foreclosure/bank auction. At that point an investor buys it at a discount, cleans it up and resells it to a unsuspecting buyer for the comparable value or at least more than they paid. Then after moving in the new owners sometimes find out about the death. At that point they wish they knew that information before they bought the home. Now they are stuck in the home and may not be comfortable with the news but have to make the best of it. Then when they sell, they have to decide to disclose. I am guessing most choose not, because it could impact their value and sale.
Long story short, I saw a need to provide a service to help disclose this information for people who care to know before they buy or rent a home.
Murders and Suicides In Homes Need Not Be Disclosed to Buyers – http://www.diedinhouse.com/News?news=607fa969-e41c-43a5-b5f2-4b3fb3963a24
‘Stigmatized’ Homes can be a Bargain and Great Investment – http://www.diedinhouse.com/News?news=db25774a-1334-425c-92f3-2994a1028aa1