The adoption of the Ohio Residential Property Disclosure Form was a major change for home buyers and sellers. The form is required in almost all sales of residential property and requires that the seller give notice of any known defects in the house for a number of issues, such as water and sewer systems, roof, water intrusion, insects and termites, and other issues affecting the property.
But, you cannot always rely upon the disclosure form as a buyer. Why?
- The disclosure form only covers defects “known” to the seller. Trying to prove what a seller knows is sometimes difficult. Be especially aware if the seller has not resided in the house. It may be difficult to prove knowledge if the seller has not been in the house on a regular basis.
- The disclosure form does not create a promise or warranty of the seller’s representations. The form clearly states that it is not a substitute for the buyer’s inspection of the property. Professional inspections are recommended.
- The buyer’s duty to inspect the property and discover is paramount or trumps almost any misrepresentation by the seller. The buyer must exercise due diligence in inspecting the property and is responsible for any defects that would be obvious to the inspector.
- But the above points do not give a seller a license to lie. Intentional misrepresentation in the disclosure form, along with concealing the defect is fraud on which the buyer may obtain compensation for necessary repairs, punitive damages, and attorney fees.
The bottom line is that the Ohio Residential Property Disclosure Form offers limited protection to buyers. It is always good to invest in a professional home inspection before closing the sale. An ounce of prevention can be worth a pound of cure.
If you have problems with you home due to disclosure, please contact YourHome.Law for a consultation to discuss your situation. 614-324-3654
Attorney Thom White