“By law is there anything you know about the home you are selling that you cannot share with me?”
That’s a good question.
If the home was used for illegal activity, it depends on the illegal activity that the home was used for. If a home was used for processing and manufacturing methamphetamine, it would then become registered on a state list.
For then to it be sold, it would have to be disclosed and the chances of a retail person buying it, besides an investor, would probably be slim because the whole house would have to be decontaminated and rehabilitated before it could truly be sold.
Now in real estate, every time you buy a home, the seller’s required to provide disclosures. Property disclosures are property specific. At the end of the property disclosures, there’s room for an addendum that could state anything that you want to state about the property. It’s a good idea to fully disclose everything that you know about the property.
When you get on a touchy subject of something like illegal activity, and now a person’s in prison, it’s probably highly unlikely that the person selling the home is actually going to disclose to you what actually went on with the property.
That’s a situation where you have to make your own determination as to whether you should be buying this property, and will it be a healthy home for you and your family.
The next best thing you can do if you don’t have information, but you knew something went on with that property, is making sure that you talk specifically with your home inspector. Make sure that he understands that there was something that could have been going on here that was illegal.
You don’t really know what it is, but if it was drug manufacturing, he might be able to find some signs.
But at the end of the day, what I tell people with any home sale or any home purchase if you don’t feel good about it, just don’t do it.
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