Property Disclosures Debunked III

Hey Honey, Hang That Giant Mirror Here!

Conceal or reveal? Always, always, always reveal when it comes to disclosures. Don’t pile up your problem areas with Aunt Betty’s antiques in the basement or hang something large to cover a settling crack. It will end up on your short list of forever regrets, guaranteed. Particularly when we are discussing material defects, defined as: Any fact that may have a significant impact on the market value of the property. It should be noted that there are a few exceptions to the rule of Ohio’s Residential Property Disclosure Forms, properties within an estate and foreclosures are prime examples of those that do not require that the disclosure forms be completed.

Call It Done

“What can you tell me about the neighborhood crime statistics”? My wet behind the ears buyer asked me with wide-eyed, eyebrow lifted apprehension. Even in a WWJD moment my answer is always the same, “zilch.” I would highly suggest, if you are even (and even when you aren’t to be honest) it’s never a BAD idea to do your own research on neighborhood conditions. Crime statistics, sexual offenders and the old school legwork of scoping out the neighborhood at different times of the day are some of the best ways to get a “real feel” on life in your potential neck of the woods.

It’s a wrap on the 3rd and final installment of Disclosures; Undisclosed, be sure to save and refer back to all three parts as you embark on your own real estate journey!