Ohio’s Property Disclosure Law: What Sellers Must Tell Buyers Before Closing
Why Disclosure Matters at Closing Before a buyer signs a purchase contract for an Ohio home, state law requires most sellers to complete and deliver a specific form disclosing known issues with the property. This disclosure requirement, found in Ohio Revised Code Section 5302.30, exists to give buyers a clearer picture of what they're purchasing …
Understanding Closing Costs: What Prepaids and Escrow Reserves Really Cover in Ohio
Deferring Capital Gains on Investment Property For real estate investors in Southwest Ohio, a 1031 exchange, named for Section 1031 of the Internal Revenue Code, offers a way to sell an investment property and reinvest the proceeds into another like-kind property while deferring capital gains taxes that would otherwise be due immediately. While the tax …
Home Warranties at Closing: What Ohio Buyers Should Know Before They Sign
A Common Closing Table Question Many Ohio home purchase agreements include an offer, sometimes from the seller as an incentive, for a one-year home warranty. Buyers frequently ask their title company or real estate agent whether this is worth accepting, and just as often confuse it with title insurance. The two products protect against very …