Legislation
Stigmatized Properties
When selecting a property to buy, most often the physical appearance of a property and the location will be obvious. If a buyer has concerns about the structural and mechanical aspects of a property, they can have a property inspection done. However, consumers may have other areas of concern that would cause them to avoid a property. Certain events may cause a property to be described as “stigmatized property” or a “psychologically impacted property”. These items are sometimes applies to a property that has had some circumstance occur in or near it, but which does not specifically affect the appearance or function of the property itself. Examples of these in a residential context might include:
- a sexual offender is reported to live in the neighbourhood
- a former resident was suspected of being an organized crime gang member
- a death occurred in the property
- the property was robbed or vandalized
- there are reports that the property is haunted
In British Columbia, it is important for consumers to know that sellers and licensees representing sellers are not required by law to disclose this type of information about property unless asked. Therefore, British Columbia buyers, who are concerned about certain types of events in regard to property, are responsible to make inquires of licensees who represent them, and of the property owner. When asked, a buyer’s agent must make the appropriate inquires, and sellers and their representatives must respond truthfully.
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Median Price
2011 $926500
2010 $805500
2009 $712500
2008 $716000
2007 $652500
William Wat
Prudential United Realty
#201 - 2707 West 40th Avenue
Vancouver, BC
V6M 1W4
Mobile: (604) 649-6308
E-mail: clients@williamwat.ca
www.williamwat.ca
Bus: (604) 263-8800
Fax: (604) 263-0864
