Death in house

[Fernando]

If owner died in house, do you mention the death in the appraisal report?

 

[Surf Cat]

Here in California if it's a purchase appraisal, the realtor has an obligation to report a death in the house within the last 3 years. You basically mention in your report that there's been a known passing in the subject property as indicated in the MLS.

If this is for a refi, and the widow or widower mentions that their spouse has just passed away, you say you're very sorry for their loss and appraise the property. No need to mention it in the report.

Appraising a stigmatized property where there's been a murder and or suicide or paranormal activity is a whole different ball of wax.

 

[Fernando]

Here in California if it's a purchase appraisal, the realtor has an obligation to report a death in the house within the last 3 years. You basically mention in your report that there's been a known passing in the subject property as indicated in the MLS.

If this is for a refi, and the widow or widower mentions that their spouse has just passed away, you say you're very sorry for their loss and appraise the property. No need to mention it in the report.

Appraising a stigmatized property where there's been a murder and or suicide or paranormal activity is a whole different ball of wax.

I know Realtors should report deaths within 3 years in CA but where in USPAP does appraisers have to disclose a natural death?

 

[andrew81]

I know Realtors should report deaths within 3 years in CA but where in USPAP does appraisers have to disclose a natural death?

it snot

 

[Restrain]

If you are doing a sale, and there is a definite stigma due to a murder, etc in the home, it would be discussed in the contract analysis. Same thing if a refi with same thing. However, if you do not find a stigma exists (normal death, etc), no need to mention it. Stigma is the key.

 

[glenn walker]

Only if its the appraiser that dies in the house : )

 

[David S. Roberson]

If owner died in house, do you mention the death in the appraisal report?

What did you do???????

 

[Terrel L. Shields]

Only if its the appraiser that dies in the house

My neighbor was also an appraiser as well as an USPAP instructor, IFAS, etc. He developed cancer and his wife was accompanying him on inspections. Once she found him leaned against the building almost passed out. After several minutes he recovered enough to get back to his car. She finished the measuring and they had a little heart to heart that night and that was the last appraisal he did. He died about 60 days later. He was also a geologist and someone I could "talk shop" with on 2 different levels. He died 10 years ago and it only seems like it was 2 or 3 years ago.

 

[glenn walker]

What did you do???????

So

My neighbor was also an appraiser as well as an USPAP instructor, IFAS, etc. He developed cancer and his wife was accompanying him on inspections. Once she found him leaned against the building almost passed out. After several minutes he recovered enough to get back to his car. She finished the measuring and they had a little heart to heart that night and that was the last appraisal he did. He died about 60 days later. He was also a geologist and someone I could "talk shop" with on 2 different levels. He died 10 years ago and it only seems like it was 2 or 3 years ago.

Sorry to hear about your friends death. Based on the great Fernando's posts lately I believe his wife will be driving him to inspections in the very near future.

 

[Tom4value]

Remember what we are looking for, any affect on market value and marketability. In this case, it would be stigma. If grandma died of old age in her house, nothing. I wouldn’t mention it unless the room had a smell that is hard to get out.

However, if there was a murder or some other event that made the news then yes, you may have a stigma and mention it, even if there was no actual stigma that you could document with market data.