I bought a house in Vancouver, BC Canada and discovered from neighbors later it was a grow op. It even successfully pass inspection. At the moment, I have renovated it and am contemplating to sell it. DOI have to inform future buyers of such a past even though I was not formally informed by the previous seller? How bad would this effect the price.
2006-12-27 12:37:41 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Not to my knowledge. Why would this be a defect? You have renovated, fixed all repairs. You do not have first knowledge, didn't see it, experience it, how do you know its just not a rumor. Nope, I don't feel you would be held liable for it. If you divulged it to me (as a buyer), I would think "so what"....Good Luck!
2006-12-27 21:53:36 · answer #1 · answered by Barbara 5 · 0⤊ 0⤋
unfortunately i do not know real estate practices or ethics of canada. however, from what i see in this link, : http://www.collingwoodcpc.com/growbusters-gallery2004.htm, if defects exist in your house as a result of it having been a grow op (gee, this is a new one to me, i never heard of houses being used to grow marijuana in!), such as molds hidden inside of ceilings or electrical defects, then you probably will have to state such defects to a a potential buyer. if this were a house that i were selling in illinois, even though you yourself had not known that you were purchasing an old grow op house, when you had found out that you had it became your knowledge. in illinois, sellers that have living in the house during the past 12 months are required to disclose all known defects of the house when a party draws up an offer to buy it. i personally like to leave these seller disclosures around the house in general, since i never know what looker may want to write an offer. i don't understand why more agents don't just make it readily available.
you can get better advice, however, by contacting both your real estate attorney and a licensed, knowledgable, experienced real estate salesperson.
good luck! imagine...houses used to grow pot! it would be so hilarious should i ever be showing one! the buyers could light up and have fun writing up an offer!
2006-12-27 20:52:57 · answer #2 · answered by Louiegirl_Chicago 5 · 1⤊ 1⤋
What is a grow op?
2006-12-28 10:45:57 · answer #3 · answered by Anonymous · 0⤊ 1⤋