What Should Buyers Be Reviewing On The Property Disclosure Form?
The property disclosure is an important document that sellers provide to potential buyers. With the property disclosure the sellers are listing out details about the condition of a home. Most states have laws governing the use of the property disclosure form as a means to help inform buyers about the house they wish to buy. Generally homeowners are required to disclose known (or should have known) conditions about the home they are trying to sell. Buyers should carefully review the disclosures because even if the home that looks great on the internet it may be one they wish to avoid if there are major issues disclosed about the home. This article looks about what buyers should know about the property disclosure form.
Use The Disclosure Form As A Screening Tool
Before a home buyer goes to visit a home they should be asking their real estate agent for a copy of the property disclosure form. The property disclosure form is often uploaded into the local MLS along with other disclosure documents to which their real estate agents have access to. Buyers should review the disclosure form for any condition they may consider to be a deal breaker before they visit the home. If the property disclosure forms mentions mold, foundation issues, bad roof, water leaks or something else many buyers may not want to view those homes as some of those conditions can prevent the buyer from...
The Top 10 Highest Priced Homes For Sale Today In The Greater Cincinnati Area
Cincinnati is the third largest city in Ohio and the Greater Cincinnati Metropolitan area covering Ohio, Kentucky and Indiana is the largest metropolitan area in Ohio and the 27th largest metropolitan in the United States. The Greater Cincinnati area has a unique variety of architecture and the homes offered in Cincinnati are no different in their unique style and features. You can find 100+ year old one of a kind homes in different neighborhoods in Greater Cincinnati as well as brand new homes with modern features.
The Greater Cincinnati is no stranger to luxury homes and has many luxury apartments, condominiums, and homes to choose from. The neighborhoods these homes are found in are in and around the Greater Cincinnati area and represent the best the city has to offer. These homes offer some of the latest and greatest in luxury as well as technology and are found in the following great neighborhoods:
What began as a farming community in 1904 the Village of Indian Hill later was reshaped into more of an area for large estates. The homes in Indian Hill represent some of the best of what Cincinnati has to offer. In 2002 the Robb Report rated Indian Hill, OH as one of the best places to raise a family. Of the top ten priciest homes in the Greater Cincinnati area Indian Hill has 7 homes on the list.
Do I Have To Give Earnest Money When Buying A Home?
When buying real estate often times the buyer is expected to give some earnest money as part of the transaction. Earnest money is usually paid up front when the offer is accepted and is held in a trust account with the listing broker, the buyer’s agent broker or with the title company. The earnest money stays in a trust account until the real estate transaction is closed or when both parties agree to terminate the transaction and there is agreement as to where the money should go to. While earnest money is not a requirement it is highly recommended and this article will explore more about earnest money works in a real estate transaction.
Should You Give Earnest Money When Making An Offer?
Earnest money is in essence a good faith deposit that a home buyer or investment real estate buyer is giving that shows they have true interest in purchasing certain property. While earnest money is not a requirement it is highly recommended since it can show the level of interest a buyer has. It is in essence a down payment put towards the purchase of a home. Earnest money can be refundable depending on the terms of the real estate purchase contract. If the real estate purchase contract conditions the purchase on a home inspection, appraisal and/or the buyer being able to get a loan to purchase the property then the language of most standard contracts state if those conditions cannot be met the earnest money should be returned to the buyer.
In some commercial real estate transactions sellers will sometimes require some or all of the earnest money to become “hard” or non-refundable due to the time...