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Ohio residential property disclosure exemption form

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The document is a Residential Property Disclosure Exemption Form provided by the Ohio Association of REALTORS®, which outlines the legal requirements for property owners to disclose certain conditions when selling residential real estate. It lists specific exemptions from this requirement, such as transfers due to court orders or new constructions. The form includes sections for owner certification and buyer acknowledgment, emphasizing the importance of property inspection and potential legal duties to disclose known defects.

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What is a residential property disclosure statement?

A property disclosure statement is an essential document that should be included in any real estate transaction. It can provide an accurate picture of the property and its condition and any potential liabilities that may come along with it. It can also help protect the buyer and seller from legal action.

Is a residential property disclosure form required in Ohio?

This form is required by Ohio Revised Code Section 5302.30. PROFESSIONAL INSPECTION(S). Owners Statement: The statements contained in this form are made by the owner and are not the statements of the owners agent or subagent.

Is Ohio a disclosure state?

The following states are currently non-disclosure states: Alabama, Alaska, Idaho, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, New Mexico, North Dakota, Ohio, Oklahoma, South Dakota, Texas, Utah, and Wyoming.

Do you have to disclose mold when selling a house in Ohio?

Ohio law requires sellers to disclose any known material defects, including mold presence. Honesty and transparency about mold issues are legal obligations that build foundational trust with potential buyers and are crucial to avoid legal repercussions.

Is a residential property disclosure required in Ohio?

Section 5302.30 | Property disclosure form required for all residential real property transfers. (A) As used in this section: (1) Good faith means honesty in fact in a transaction involving the transfer of residential real property.

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When to use an exempt seller disclosure?

0:08 9:56 Otherwise known as an exempt seller. And you may have even seen an exempt seller disclosure this isMoreOtherwise known as an exempt seller. And you may have even seen an exempt seller disclosure this is a one-page document.

Who can fill out the condition of the property disclosure form?

In some states, including California, your real estate agent is not legally allowed to help you fill out the form, so youll need to complete it on your own.

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What is a residential property disclosure statement?

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Is a residential property disclosure required in Ohio?

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When to use an exempt seller disclosure?

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