What Is a Psychologically Impacted Property?

The question was asked, “What sort of disclosure is given when there’s been a death in a property?” That falls into the category of Psychologically Impacted Property.

A psychologically-impacted property is any property where certain circumstances, suspicions or facts may create emotional or psychological disturbances or concerns to a Buyer as outlined in Title 59, O.S., Section 858-513. If the items as listed in Section 858-513 are of concern to the Buyer, the law requires that the real estate licensee adhere to the following procedure: 

1. The Buyer must be in the process of making a bona fide (written) offer. 
2. The real estate licensee must receive a request in writing from the Buyer. The Buyer’s written request must state that this factor is important to the decision of the Buyer. 
3. The real estate licensee shall make inquiry of the owner by submitting the written request to the owner. 
4. With the consent of the Seller, the real estate licensee will furnish the Seller’s response to the Buyer or Buyer’s Broker. 
5. If the Seller refuses to furnish the information requested, Seller’s Broker shall so advise the Buyer or Buyer’s Broker. 
6. If the Buyer is requesting information concerning Acquired Immune Deficiency Syndrome (AIDS) disease which falls under the privacy laws, the information can only be obtained in accordance with the Public Health and Safety Statute, Title 63, Oklahoma Statutes, 1992, Section I-502.2A.