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Can you sue a home seller for undisclosed defects in Ohio?
Ohio sellers can be held liable for failing to disclose a material defect on the property. For example, if a seller knew that whenever it rains, the basement quickly floods, but failed to disclose this information, the buyer who discovers this can potentially sue.
What happens if a seller lies on a disclosure in Ohio?
If it can be proven that the owner knew about a problem and failed to disclose it on the required form, you might be able to hold them responsible for paying for the repair. If the seller and/or their realtor intentionally defrauded you, you can seek damages amounting to double the cost of repairs.
What does a seller disclosure do?
A sellers disclosure is a real estate document that provides details about a propertys condition and how it might negatively impact the value of the home. It is often required by law, though what it needs to contain can vary by state and locality.
When must an Ohio sellers agent provide an agency disclosure to a buyer/consumer?
To that end, many appraisers believe that any communication with individuals involved in the transaction including real estate agents is unlawful. However, the Bureau Chief of Californias Bureau of Real Estate Appraisers (BREA) debunked this view in a recent BREA newsletter.
What is the seller disclosure law in Ohio?
Repairs Made And Repairs Needed In addition to discussing renovations or remodeling projects that have been completed, Sellers Disclosure statements often contain a report of all of the repairs that have previously been made on a given property. This information can include the history of: Roof s or leaks.
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Ohio law requires sellers to fill out a real estate disclosure. There are certain circumstances, however, where it is not needed. For example, when a property is a foreclosure, is being transferred directly between owners, or when a property is transferred to or from a governmental agency.
How long after buying a house can you sue the seller in Ohio?
There is no set amount of time before you are no longer able to file a claim, and the major factor in this situation would be what was agreed upon in the purchase of the property.
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