Got A Haunted Home With Your Refinance Home Mortgage?

Rony Walker
You just settled into your new home bought from refinance home mortgage. On the first night, you heard things up in the attic. You shrug it off, thinking it's only your imagination. The bumps in the night grew louder and things start flying off the wall. You're living in a haunted house! What to do?

Friendly and unfriendly ghosts

Unlike some home buyers, you see the house first before buying it to check if indeed the house is in good shape. But there are things agents will not tell you because you might back off the deal. Of course, it will depend on your taste - if you don't care a bit or if you are squeamish about ghostly sightings.

A haunted house does have to be Victorian mansion. It can be a townhouse in a posh village or a condo in upscale Manhattan. But the difference lies in what kind of ghosts are around. If the ghosts have been there before the American Civil War, they're "house-broken", but if you got a house where murders or mass suicides were committed, then that is a different story.

With your refinance home mortgage already signed, sealed and delivered, you can do little if you are denied a cancellation of the purchase. So you either learn to live with the ghosts and turn into a profitable bed and breakfast for rabid ghost hunters, or wait out the first year of the mortgage before you can sell. That is, if there are buyers.

Why they don't tell

Homeowners selling houses with a complete package of ghost sightings and flying objects are not telling. Haunted houses don't sell or are sold at low prices so sellers keep mum hoping to get a fair deal and get rid of their property in no time.

If you found a beautiful old house selling for a pittance, be suspicious - there could be ghosts around. Spooks aside, there are other things to watch out for before you plunk in your earnest money into a refinance home mortgage.

Check if the house is on an earthquake belt or on contaminated soil. You'll be smart too to check the foundation of the house and smoke out the presence of asbestos and radon. Do not always rely on the agent's pronouncements, even if she or he is your brother. Get an independent appraiser rather than be a scrooge. This investment will save you the sleepless nights ruing your mistake.

But if you know what it takes for a home appraisal, then get the home appraisal guide, and go over the house inch by inch from top to bottom.

Before you sign the deeds and agreements

In your enthusiasm, do not forget to ask how you can cancel should things go wrong. Ask a lawyer to review the contract or the agreement and get his advice on cancellation matters.

You have all the right to be careful. Isn't it your money that'll pay for the refinance home mortgage? So ask about cancellation upfront. Talk to the agent's broker if he refuses to a cancellation. If he also refuses, ask for another agent. If things are still sticky, then get a real estate lawyer to get you out of the pickle.

If you're happy living with ghosts

If you're clairvoyant, you might as well enjoy your house. A bed and breakfast and a crystal ball will auger well for your chances with a haunted house bought with your refinance home mortgage.
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