Every night you hear the floorboards creak from footsteps when no one is home, and you swear you felt someone standing behind you only a moment ago. Living in a house with these kinds of creepy occurrences may not be appealing to most, but a recent survey from Realtor.com found that a number of Americans would actually be willing to buy a haunted house.
The online real estate site's Haunted Housing Report asked respondents how they feel about "haunted" real estate. Here is what the data showed:
- 26 percent of respondents would consider buying a haunted house that was for sale.
- Slightly more than half (51 percent) have heard about a haunted home experience from someone else.
- 35 percent have even lived in a home they suspected might be haunted.
Maybe it is, but then again, most people first made sure they knew what they were getting into. A quarter did their due diligence and researched a home's past history to find out about any creepy incidents before moving in.
Looking into your property's past should always be at the top of your to-do list when shopping for a home - even if it's not rumored to be haunted by ghosts. The home's title could have defects such as liens and encumbrances, and these can haunt you just as much as an evil spirit. A title insurance policy can help protect you from these issues by letting you know what you're getting into.
What could go wrong?
Consider yourself lucky if you aren't faced with goblins and ghouls in your new home, but title defects could also take a serious toll on you, both emotionally and financially. For instance, there may be a mechanics' lien placed on the property. This would be instituted by a construction worker who was not paid for his or her services as a way to assure compensation. Regardless of whether you were the owner at the time of the work in question, the burden of this lien can be placed on your shoulders. You could be stuck paying high fees to resolve the problem.
When you purchase a title insurance policy, the title company will perform a title search to uncover issues that may be in the home's title. Then, if a problem arises in the future that is covered under your policy, the insurance provider will pay for your defense, thereby saving you even more money and stress.