Buying a home in Ohio
One of the first documents you will be asked to sign when buying a property in Ohio is the "Consumer Guide To Agency Relationship." This document is required by state law, and explains the buyer-real estate agent relationship. Before 1996, in Ohio, every realtor had an obligation to the seller, even if the very same agent was the one who had brought the buyer to that particular home. But, in ‘96, a bill, called "Ohio House Bill 354" was passed. This gave prospective property buyers the ability to have equal representation with a real estate agent representing their best interests in the negotiations. More good news for the Ohioan homebuyer is that Ohio law requires the seller to make certain disclosures of home defects to every potential buyer. This is done on a Residential Property Disclosure Form (RPDF). As the buyer, you should always make sure that you have seen a completed RPDF before signing at the closing. But, don’t forget that it is almost always wise — regardless of any disclosures made — to organize your own home inspection. Learn more about how to get the best deal on your refinance here.Refinancing a home in Ohio
Refinancing is as straightforward in Ohio as it is in most of the rest of the country. There’s little in the way of law to stop you doing what you want. However, things can get complicated in certain circumstances, such as when one party to a divorce wants to buy out the other through a refinance and then changes his or her mind. See Tenney v Sinclair, 2013-Ohio-1717. But let’s hope you’re not in that rare position. Instead, all you want is what most homeowners are looking for when they’re refinancing:- A lower mortgage rate or monthly repayment
- A cash-out refinance that sees you walk away with a check