When it comes to buying or selling a home in Ontario, there is no legal requirement for sellers to disclose a past death or murder in the home. This means that buyers must be aware of the potential risks associated with purchasing a stigmatized property. Stigmatized properties are those which have non-physical issues or features that may affect their selling price, such as if the property was the scene of a crime, owned by a notorious individual, used as a former grow-op, or has some other negative history attached to it.
The onus is on the buyer and their real estate agent to research any potential stigmas associated with the property they are interested in. It is important for buyers to understand that they may be taking on certain risks when purchasing a stigmatized property and should take steps to protect themselves accordingly.
It can be difficult for sellers of stigmatized properties as well since these homes often take longer to sell and may not fetch as high of a price as other comparable homes in the area due to their stigma. Sellers should also be aware that even though there is no legal requirement for them to disclose any stigmas associated with their home, it may still be beneficial for them to do so in order to avoid any potential legal issues down the road.
Overall, it is important for both buyers and sellers of stigmatized properties in Ontario to understand what risks they may be taking on when entering into such transactions and take steps accordingly. Buyers should do their due diligence when researching any potential stigmas associated with a property while sellers should consider disclosing any relevant information up front in order to protect themselves from potential legal issues later on down the road.
Talk to your Realtor® or your legal advisor for more info.
Jacob Bodzek
Broker/Team Leader
