Under ORC §5302.30, the Ohio Residential Property Disclosure Form requires disclosure of various property conditions. All of the following must be disclosed on the form EXCEPT:
Correct Answer
A) The seller's outstanding mortgage balance and monthly payment amount
The seller's outstanding mortgage balance and monthly payment amount are not required to be disclosed on the Residential Property Disclosure Form. This financial information is private and is addressed separately during the closing process, not through the disclosure form.
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More Oh Disclosure Requirements Questions
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- → Tom, an Ohio seller, asks whether he must disclose that the property has a sump pump in the basement. Under Ohio disclosure practice, which statement is correct?
- → Kevin, an Ohio first-time seller, asks whether he must disclose that his property is connected to the municipal sewer system. Under Ohio disclosure practice, which statement is correct?
- → Nancy, an Ohio buyer, is purchasing a property and asks about environmental assessments. Her agent explains the different phases. Under Ohio environmental practice, what is the purpose of a Phase I Environmental Site Assessment?
- → Sara, an Ohio buyer, asks her agent whether she should conduct an environmental assessment before purchasing a residential property in a suburban neighborhood. Under Ohio practice, when is an environmental assessment typically recommended?
- → Lisa, an Ohio seller, discovers that her property's drinking water has high iron content, causing staining of fixtures. The water is safe to drink but cosmetically unpleasant. Under Ohio disclosure law, must Lisa disclose this?
- → Christine, an Ohio seller, knows her property contains asbestos floor tiles in the basement. The tiles are in good condition and undamaged. Under Ohio disclosure law, must Christine disclose the asbestos?
- → Emily, an Ohio buyer, is purchasing a property near a former landfill. She asks her agent about potential environmental concerns. Under Ohio practice, what should the agent advise?
- → Roger, an Ohio seller, asks his agent whether mold is considered an environmental hazard that must be disclosed. Under Ohio disclosure practice, which statement is correct?
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Previous Question
An Ohio seller completes the Residential Property Disclosure Form but fails to disclose a known mold issue in the bathroom. The buyer discovers the mold after closing and sues. Under ORC §5302.30, what standard of liability applies to the seller?
Next Question
Lisa, an Ohio buyer, receives the Residential Property Disclosure Form and discovers that the seller marked several items as 'Unknown.' Lisa asks her agent whether the seller can do this. Under ORC §5302.30, which statement is correct?