Yes. The terminology “As-Is” simply means that the seller will normally not be paying for any repairs to the property. An “As-Is” sale may not exempt a seller from disclosure material information about the property. The seller must still accurately complete a Residential Property Disclosure Report and deliver it to the buyer, unless otherwise exempt and must still disclose other material facts affecting the value or desirability of the property.
Generally, the seller must complete the Residential Property Disclosure (RPD) and deliver it to the prospective buyer as soon as practicable before the preparation of an offer. Seller should thoughtfully and carefully consider each question and answer it accurately, erring on the side of more, than less disclosure. Some transaction are exempt from this requirement. Sales associated do not have the obligation to verify statements made by the seller on these forms.
A seller must disclose known material defects about the property. Typically, a sellers makes these disclosures on a Residential Property Disclosure (RPD) Form. However, if an items is not covered on a RPD, a seller must still make disclosures about known material defects. In virtually all cases, a buyer will discover any problems once the buyers occupies the property. By disclosing all problems up front, the seller can avoid the surprise that many times provokes a lawsuit. Even if a matter has been repaired, the seller should disclose the previous defect and repairs completed.
The Residential Property Disclosure is a form required by state law which the seller completes (unless exempt) and delivers to prospective buyers. Among other things, it asked the seller to list the various features of the property and disclose whether or not any of these features are in operating condition. It also allows a seller to states whether the seller is aware of a variety of commons issues that might affect the property and any recent repairs.
In 2013, the State of Ohio updated the Residential Property Disclosure.
Heating Equipment is a very important component of your home. It is important to service your system properly maintained by a licensed contractor.
Don’t try to adjust automatic dampers, heat reclaiming devices or safety controls on heating equipment. If your equipment doesn’t operate properly, call a qualified service company for a safety check and needed repairs.
What are the buyer’s responsibilities in the transaction?
A buyer must take an active role in the transaction. Rather than passively waiting for the seller to volunteer information, a buyer must exercise reasonable care for protection including ascertaining those facts which are know to, or within the diligent inspection and observation, of the buyer. All real property and improvements can contain defects and condition, which are not readily apparent and which may affect the value or desirability of the property. The buyer should review the Residential Property Disclosure with a particular eye to questions answered “unknown” or left unanswered. Keep in mind, the buyer should not rely on the sales associate to verify any statements by the seller. Because conditions and defects are often difficult to locate and discover, all buyers should obtain independent inspection by appreciate professional to ascertain facts important to them.
Selling your home is a daunting task. Do I get new carpet? Do I paint my cabinets? Help!
Simple and affordable do-it-yourself programs can greatly increase a home’s sales value, according the HomeGain’s home improvement and staging survey. The marketing company surveyed nearly 600 real estate professionals to discovered which DIY home improvement projects give seller the biggest return for their buck. Here are six projects under $1000 (amounts are estimated) that made the list.
Cleaning and decluttering- Remove any personal items, unclutters countertops, organize closets and shelves and make the home sparkling clean. COST: $290 ; RETURN :$1,990
Brightening- Clean all windows inside and out, replace old curtains, update lighting fixtures and remove anything that blocks light from the windows. COST: $375 RETURN: $1,550
Smart Staging- Rearrange furniture, bring in new accessories and furnishings to enhance rooms, incorporate artwork, and play soft music in the background. COST: $550 RETRUN: $2,197
Landscaping Enhancements- Punch up the homes’ curb appeal in the front and back yards by adding bark mulch, bushes, and flowers and ensuring current plants and grass are well-cared for and manicured. COST: $540 RETURN: $1,932
Repairing Electrical or Plumbing- Fix leaks under the sink, remove any mildew stains and ensure all plumbing is in good working condition. Update the homes electrical with new wiring for modern appliances, fix a light or outlets that do not work, and replace old plug pints with new safety fixtures. COST: $535 RETURN: $1,505
Replacing or shampooing dirty carpets- Steam-Clean carpets or replace any work carpets and repair any floor creaks. COST:$647 RETURN: $1,739
Did you know the Ohio Housing Finance Agency offers assistance to First Time Home Buyers?
They offer several affordable loan option to help you achieve your dream of home ownership. OHFA offers 30-year fixed rate FHA, VA, USDA-DA and Conventional Mortgages designed especially for homebuyers with low to moderate incomes, with generous income and purchase price limits.
Your Choice! Down Payment Assistance
Grants for Grads
Limited 203(k) (Home Repair Loan)
FHA Home Weatherization
Mortgage Tax Credit
Make sure to check out myohiohome.org or your lender for more information!
I think we have harped on the fact that there is not enough inventory for buyers on the market. I have had clients that look at a home that goes on the Market on Thursday and in contract by Friday or even Thursday night. My clients have to rearrange their life to get into the house to view it.
I recently closed on a home for an out of town investor. We have been filtering down their needs and wants for a while. They ended up seeing a few homes online they were interested in. Since they were not in town yet, I asked the listing agents if I could view their properties virtually for my clients, and they agreed. I was able to upload the videos for my clients and provide some details and my clients ended up going into contract without stepping into the home.
This is just one of many ways I can help you find your new home. It also is great for selling you new home. Videos and photos help sell your home.
In 2018, many people are trying to decide if they want to renovate or move. If you are planning to sell, here is a Homeowners Checklist.
As you prepare to being showing your home to perspective buyers, you might consider takes some of the steps listed below.
Potential buyers often welcome a home that is clean, neat, uncluttered, in good repair, light, airy, fragrant, and quiet.
Clean Everything! Cleanliness signals to a buyer that the home has been well care or and is most likely in good repair. A messy or dirty home will cause prospective buyers to notice every flaw.
Unclutter Your Home Before You Show It. Have a garage sale. Empty closets. Donate what you can’t sell. The less “stuff” in and around your home, the roomier it will seem.
Let The Light In. Raise the shades. Open the blinds. Pull back the curtains. Put brighter bulbs in the lamps (but not bright enough to cause a glare) Bright ope rooms feel larger and more inviting. Dark rooms feel small and gloomy.
Let the Fresh Air In. Get rid of odors that may be unfamiliar or unpleasant. People are most often offended by odors form tobacco, pets, cooking, and musty or sour laundry. Fresh flowers and potpourri can be used to your advantage. Other smells that can attract positive attention include fresh baked bread, cinnamon or vanilla.
Fix ANYTHING That Is Broken. That include plumbing, electrical systems, and switches, windows squeaky floorboards, TV Antennas, screens, doors, and fences; if it can’t be fixes, replace it or get rid of it. A buyer might make a much lower offer if your house is in disrepair and will probably still insist that everything be fixed before taking occupancy. You’re better off if you leave potential buyers no reason to offer less than you are asking.
Send Pets Away or secure them away from the house when prospective buyers are coming. You never know if people will be annoyed, intimated or even allergic to them.
Paint. There’s nothing that improves the value of a home more than a few can s of paint. It’s so much easier to paint a room than to scrub it. Stick with the neutral color.
Keep the Noise Down. Silence is a restful sound that offends no one. Turn off the TV and radio. Soft instrumental is fine, but avoid vocals.