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Sunday
Feb272011

Real Estate and Psychological Impact

Real estate can be a funny animal sometimes. Take for instance, the subject of Psychological Impact. That  is considered a non-material fact as it relates to  real estate transactions. A few examples of a psychologically impacted home  could be a home which is the site of a homicide or a suicide, or some type of felony took place there, and it could also mean that  the owner or occupant suffered from an infectious disease. Supernatural occurrences also fit into this category.

There is a  Psychological Impact Law in Connecticut that has been in place since 1990, and in laymans terms,  it pretty much states that if a buyer or lessor has a concern over a property's psychological impact, he must submit a request a writing to the seller, and the seller must return that answer in writing.

It is NOT a seller's duty, nor an agent's duty to disclose  any psychological impacts unless the request is made in writing, so if any of these instances trouble you, seek legal advice from your attorney, and discuss your concerns with your agent.



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