Body found on property should we still buy?

Question

A body was found on a piece of property that we have under contract. It is a large tract that sits in a rectangle fashion on two major cross streets with a tear down house on the corner. The area is up and coming but in the future path of progress. Only about 12 min from a major town that has a lot of real estate demand. The body was found by a neighbor by the tear down house. Someone has been arrested and it appears the body was just dumped there. Our plan for the property was to develop the periphery with small rental homes on one strip and then subdivide into two lots to build a couple of homes to sell to pay off the loan we are taking out on the other strip. We would then sit on the rest. We would also immediately tear down the house and keep that area vacant and clear. We still want to buy the property but my nerves are getting the best of me and I can't sleep thinking about if I making the right decision. Will this hang over the property like a perpetual black cloud? Will anyone want to live there?

Matthew Paul · Answer

You have to die somewhere . Ever been to a hospital ?  Odds are somebody died in the same bed you were lying in .   Its a non issue on buying land

Joseph Beilke · Answer

@Katie B.

I agree with @Theresa Harris that some states require you disclose information on a property that had anything to do with death or a crime.  This could in the long run might have lasting effects for resale or even your ability to improve.  If you find out that this is not the case for this property and your long term goal is to completely reshape the property to the point where there is no visual remembrance of how it once was, I say move forward with the purchase.

Ray Hage · Answer

Hi @Katie B. if anything I would get a little excited and not because I like dead bodies, but this could be used a negotiating tool against the seller. "I really like the property but I am kind of worried about being able to build quickly since it's a crime scene.  I also worry about the future value especially when I eventually go to sell later down the line." etc.

Frankly, in reality, I think for most it wouldn't be a big deal. If the area is improving, I would try to negotiate the price as best as you can and hold on for a while for the appreciation.

John Morgan · Answer

I’d buy it. Not a big deal. People bite the dust everyday and don’t always die in beds. This one sounds a little unconventional but I don’t think anyone will care in the long term.

Ryan Kelly · Answer

@Katie B. Consider it free marketing. You now have a new name for your subdivision “Corpse Acres.”

More seriously, that sucks and sorry for the victim. I hope they have found the killer.

It wouldn’t preclude me from purchasing the property is the overall strategy and location are still in tact.

Joel Case · Answer

I think you may be overthinking it a bit considering that it's a non-disclosure state. A body was dumped on the property which to me is very different than if it was a murder in an actual home I was thinking about buying. I would not get too hung up on it. If the numbers work, do the deal.

Body found on property should we still buy?

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