Home Sale Law in Ohio

Buying or selling a house can be an exciting but stressful time in a person's life. It also requires a person to make a large number of possibly life-changing financial and legal decisions.

In Beachwood, Ohio, it's perfectly legal for individuals to buy and sell homes without the assistance of a third party. Nonetheless, this isn't the only option, and isn't always the best option, either.

For that reason, it's usually best to buy and sell property through a real estate broker. This is a person who helps a person buy or sell a home. They serve as an intermediary between the buyer and seller, help sellers find buyers, and help prospective buyers. They also handle a great deal of the paperwork and other formalities involved.

Some Beachwood, Ohio real estate brokers charge a flat fee, but most take a relatively small percentage of the sale price of a house they assist a client sell.

Getting a Mortgage in Beachwood, Ohio

If the buyer asks a direct question regarding the physical condition of the property, the seller must answer it truthfully. Misrepresenting a material fact in a real estate transaction is a very significant form of fraud, and could give rise to significant damages against the seller.

Most significant defects (those which have any effect on the value or safety of the home) should be disclosed even if the buyer doesn't ask about them. If the seller knows of a defect, and a reasonable buyer wouldn't be able to know it through a normal inspection, the seller must disclose it.

As a buyer, you should be aware that you have some commitments in this area, too. Buyers are expected to be diligent. Failure to do so might prevent the buyer from recovering in a lawsuit.

Generally, buyers have a duty to conduct a reasonable inspection of the property before buying it. Therefore, buyers usually can't recover for defects that could have been discovered via reasonable inspection, unless the seller actively conceals them.

Can a Beachwood, Ohio Real Estate Attorney help?

If you are buying a home in Beachwood, Ohio, there are probably things you want to focus on other than paperwork and required inspections, such as the process of moving in, checking out schools, etc. A reputable real estate attorney can make it much easier to focus on the aspects of home ownership that matter to you.