Residential Property Disclosure

Let me start by saying, it is law in the state of Ohio that a seller must disclose what works and what doesn’t work with their home and the way the seller communicates this to a buyer is by completing a Residential Property Disclosure Form. This form has been in effect for several years now; however, the form has been expanded to 4 pages of questions that a seller must complete prior to selling their home.

Most Realtors have this form completed at the time that they list your home. The Residential Property Disclosure Form is usually presented by the Realtor to a buyer during a showing of the property or prior to the writing of the Purchase Contract. To give you an idea of the types of questions a seller must answer, you are asked “do you know of any current leaks or problems with your roof?" In another question, you are asked about structural components such as foundation, basement/crawl space, and wall related issues, and the questions reads; "do you know of any movement, shifting, deterioration, cracks & settling problems?" Another question deals with Wood boring insects and termites, "does your home have bugs?" New questions added to the form this year are related to quality and quantity of your water supply. The seller now has to disclose that his well goes dry every August and that his water smells like rotten eggs! A new question that is interesting is “are you in a flood plain?" With the unpredictable large amounts of rain that we have experienced over the last few years many areas have flooded that have never before experienced high water. As a result the seller now has to answer flood related questions. You are now asked 6 Bounty line/ encroachment and shared driveway questions. You ask “What is an encroachment?” and the best way to explain an encroachment is to give you an example. The seller now has to disclose the fact that his garage was built 6’ over his property line onto the neighbor’s lot. This is an encroachment. Many new questions have been added to the form.

For a copy of the questions that a seller must answer call or email our office and we’ll fax or email you a copy.

Tags: Residential Property Disclosure, Real Estate Forms, Sellers