Nevada laws do not require real estate professionals to disclose if a property was owned by a notorious person. Still, Stephen Paddock’s two former residences will not fly under the radar. Paddock killed 58 people and injured hundreds more in October 2017 when he opened fire on concertgoers from the window of his Mandalay Bay hotel room. The shooting became the deadliest in modern American history, and the case was closed without the discovery of Paddock’s motives.
Paddock owned homes in Mesquite and Reno, Nevada. His estate has listed both homes and disclosed the previous owner as Stephen Paddock. The listings state “All net proceeds go to the victims’ families. This is an estate sale and is subject to court approval.” The homes are being sold as part of Paddock’s probate case, which has been complicated because he had no will when he died and his default heir, his mother, “elected to have nothing to do with his assets.”
How to List a Stigmatized Home
The stigma associated with these particular properties could not be worse. Nevertheless, the properties have many selling points, including “breathtaking views, generous lot size, and upgraded granite countertops.”
Interestingly, the list prices are about 15% higher than appraised value for the Mesquite property and 9% higher for the property in Reno. The fact that the money is going to the victims may aid in ameliorating the stigma surrounding the homes.
As can be seen in the staging pictures, the garage door has been replaced with plywood after it was torn off by authorities as they searched the home. Bids will be opened up to auction at a court hearing before the offer is accepted. At the time of publication, no offers had been made.