Kyle, an Ohio buyer, is purchasing an owner-occupied home. He asks his agent when he should expect to receive the Residential Property Disclosure Form. Under Ohio practice, what is the typical timing?
Correct Answer
A) The form is provided before or at the time the purchase agreement is signed
Under ORC §5302.30, the seller must provide the Residential Property Disclosure Form before the purchase agreement is entered into or at the time it is signed. This ensures the buyer has disclosure information before committing to the purchase.
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Related Topics & Key Terms
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Related Concepts
A seller's disclosure statement is a form that sellers complete to inform buyers about the condition and history of the property, including known defects, past repairs, insurance claims, and environmental issues.
Many states and localities have fair housing laws that expand upon the protections offered by the federal Fair Housing Act.
A stigmatized property is one that has an undesirable reputation due to events that occurred on the property or nearby, such as a murder, suicide, alleged haunting, or proximity to a registered sex offender. The stigma is psychological, not physical.
More Oh Disclosure Requirements Questions
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?
Carlos, an Ohio seller, is asked about HOA assessments on the disclosure form. The HOA has informed all owners of a pending special assessment for pool repairs but has not yet voted on the exact amount. Under Ohio law, must Carlos disclose this?
An Ohio property was enrolled in Ohio's Voluntary Action Program (VAP). During remediation, institutional controls were placed on the property restricting future use to residential purposes only and prohibiting excavation below 5 feet without Ohio EPA approval. Under Ohio law, what must the seller disclose about these restrictions?
An Ohio listing agent receives a home inspection report from the buyer's agent showing significant issues. The listing agent's current listing on the same property expires, and 6 months later, a new agent lists the property. Under Ohio law, does the original listing agent have any obligation regarding the inspection report?
Susan, an Ohio buyer's agent, discovers that a property she is showing has a known code violation. Under Ohio law, what is Susan's disclosure obligation?
- → Jake, an Ohio seller, has a property with a French drain system installed to address yard drainage issues. Under Ohio disclosure law, must Jake disclose the drainage system?
- → Terry, an Ohio seller, has a property with a water softener installed to treat hard water from the private well. Under Ohio disclosure law, must Terry disclose the water softener and the reason for its installation?
- → 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?
- → 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?
- → 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?
- → Under Ohio environmental disclosure requirements, sellers must disclose various environmental conditions. All of the following are environmental conditions that must be disclosed on the Ohio Residential Property Disclosure Form EXCEPT:
- → Amanda, an Ohio seller, is completing the Residential Property Disclosure Form. The form asks about environmental hazards. Under Ohio law, which of the following must be disclosed if known?
- → An Ohio seller's property has naturally occurring radon levels that exceed the EPA action level of 4.0 pCi/L. The seller had a mitigation system installed that reduced levels to 2.0 pCi/L. Under Ohio disclosure law, what must the seller disclose?
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Previous Question
Under Ohio law, the listing agent has independent disclosure obligations separate from the seller's Residential Property Disclosure Form. All of the following are correct statements about the agent's obligations EXCEPT:
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An Ohio seller is selling a property where the neighbor's tree roots have caused damage to the sewer line. The seller had the line repaired 2 years ago. Under the disclosure form, what should the seller disclose?