Photo: Haunt World
Depending on its upkeep and historical significance, a haunted house can actually be sold for a substantial amount of money.For example, in 2010 the famous Amityville Horror House was put on the market for $1.15 million and was sold in less than three months.
On the other hand, some homeowners find it difficult to sell a property that supposedly houses uninvited guests. A 2000 study from Wright State University found that haunted properties are on the market an average of 45% longer than comparable properties.
With the current housing market lengthening the average time it takes to sell a home to 117 days, this means it could easily take up to six months to sell a ghost-ridden property. Fortunately, the following tips can make it easier to manoeuvre through a potentially frightening home selling process:
Examine State Laws
If you truly believe your house is haunted, don’t disregard your beliefs before looking into state laws. Over 20 states across the US currently require all parties associated with a home’s selling process to disclose any information about its past, whether the house has experienced a fire, mould, or something more ghostly. Failing to do so could result in a lawsuit because while some home buyers would be thrilled at the idea of living in a haunted house, others would just as soon run in the other direction upon hearing the news.
Who You Gonna Call? Ghostbusters!
If you find it difficult to sell a haunted house, consider ways of de-spookifying it. Sometimes just sprucing up the yard or applying a fresh coat of paint to the home’s exterior will do the job, but if all else fails, contact a medium that can visit your home and “clear” out the space.
In an article by HGTV Front Door, David Franklin Farkas, owner of househealing.com, devotes his time to ridding residential and commercial properties of spooky specters. Thanks to services provided by Farkas, owners who were previously struggling to sell their home have received offers in sometimes only a matter of days.
Consider Selling Options
According to Reuters, haunted properties typically sell for 10 to 20 per cent less than comparable homes in the area. Depending on the prospective buyers though, a haunted house may, in fact, be in demand. Ghost hunters or Halloween enthusiasts have been known to offer well above the asking price to grab hold of home with a ghostly past.
Additionally, investors sometimes look to buy a haunted house in hopes of gutting the house, building anew, and reselling for a larger profit. Other times, adventurous business owners purchase haunted houses in order to transform the properties into Bed-and-Breakfasts, restaurants, or local businesses that will attract curious visitors.
Consider Mortgage Plans
Home buyers may be relieved to know that when it comes to choosing a financing option, haunted homes are not much different than standard living spaces. According to Bankrate.com, if a recently bought property will be used for business endeavours, individuals should look into a Small Business Administration loan. If the property will be flipped, an investment property mortgage should be used.
And finally, if the house will be used for standard living purposes only, homeowners can use a regular mortgage payment plan. The important thing to remember is that since the majority of haunted houses are deemed historical and are sometimes over one hundred years old, it is crucial to have the home evaluated and to have a home inspection report issued.