Investment property in Ohio - No RPD

GA · Member since 2015 · 67 posts · 17 votes

I am looking at an investment property in Ohio. This is an off-market deal and there is no Residential Property Disclosure form for the property. Is this normal ? Anybody have experience buying without that? Pros and Cons?

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Remington LymanBusiness Member

Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes

Quote from @Srini Murthy:

Thanks @Brittany!

I feel the same. My realtor says it is not uncommon to not have it. However I am hesitant to proceed without it.

Who is your Realtor? It is uncommon unless it is a wholesale deal and the wholesaler is being uncooperative

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Brittany MinocchiBusiness Member
Lender · Massillon, OH · Member since 2022 · 1k+ posts · 486 votes
2y
Even if it's off market, properties still typically have a disclosure form. Have you asked the seller (or had your agent as if you're working with one) for one to be completed? There are no pros to not having one, that form is for your benefit. If a seller is unwilling to complete one it would make me think they have something to hide.
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Srini Murthy
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GA · Member since 2015 · 67 posts · 17 votes
2y
Thanks @Brittany!
I feel the same. My realtor says it is not uncommon to not have it. However I am hesitant to proceed without it.
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Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
2y
Quote from @Srini Murthy:

I am looking at an investment property in Ohio. This is an off-market deal and there is no Residential Property Disclosure form for the property. Is this normal ? Anybody have experience buying without that? Pros and Cons?

"The seller must fill in the RPD according to Ohio law but there are a few exceptions. The exceptions that you hear of most often are usually not valid. If you inherit a home and have not lived in it for the past year, you are exempt. If you are the executor of an estate or the guardian of a trust, you are exempt. If you have never lived in the house it is NOT an exemption, you must fill out the RPD. In the case of landlords, they have never lived in the property but surely know more about the property than the tenants. Check with your real estate agent to see if you are exempted from the residential property disclosure." https://www.carletonrealty.com/blog/whats_a_residential_prop...
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Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
2y
Quote from @Srini Murthy:

Thanks @Brittany!
I feel the same. My realtor says it is not uncommon to not have it. However I am hesitant to proceed without it.

Who is your Realtor? It is uncommon unless it is a wholesale deal and the wholesaler is being uncooperative
[email protected]614-541-8475 Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
Reafco512 Reviews
Website View Page
2 Reply
Brittany MinocchiBusiness Member
Lender · Massillon, OH · Member since 2022 · 1k+ posts · 486 votes
2y
Quote from @Srini Murthy:

Thanks @Brittany!
I feel the same. My realtor says it is not uncommon to not have it. However I am hesitant to proceed without it.

Have to disagree there - I have never helped a buyer or bought/sold a house personally where there wasn't a disclosure form.
[email protected]330-354-6590
Brittany Minocchi - Barrett Financial Group, LLC522 Reviews
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