FSBO in OHIO requirements needed

[Lyn_OHIO]

What is the name of your state? Ohio
I am selling a home in Ohio on my own (FSBO). I was wondering what is required - what I have done is listed below. Is there anything I have missed? If so please let me know.

1. Purchase Contract - signed by both parties
2. Disclosure Statement - filled out & signed by both parties
3. Lead Paint Disclosure - filled out & signed by both parties

Are there any certain things that MUST be stated in the Purchase Contract to conform to Ohio Real Estate Laws. And do I need to do anything further?

Thanks,
Lyn

[lcannister]

Spend 500 for an Atty so 25k doesn't come back to bite you in the hinny all so you could save a few dollars.

[Lyn_OHIO]

Why would 25k bite me in the hinny? I have no problem spending money for an attorney, although I would like to understand why I would want to do that?
Thanks

[LindaP777]

I've sold 7 house FSBO in the last 7 years.
No survey required in Ohio, so I don't get a survey.
Once I have a buyer, I fill out a very simple purchase contract. If your buyer is getting a mortgage, they will hire the attorney to do a title search and close and record deed. It's pretty simple here.

If they are not getting a mortgage, then the two of you will have to decide who is paying for the legal fees )more than likely the buyer, as they are the ones who will want a title search and want the deed recorded).

[Lyn_OHIO]

, I fill out a very simple purchase contract. If your buyer is getting a mortgage, they will hire the attorney to do a title search and close and record deed. It's pretty simple here.

They are getting a mortgage do you feel I have covered everything as far as the sale so far?

Also is it wise for me to state "as-is" I mean the home is in great cond. but I do not want them to start the furance and than 1 week if it goes bad they sue me or if the stove breaks or roof needs replaced so what do I do - I explained all these things and dates of install in the disclousure statement so if I do not write as-is am I liable forever for any break downs or repairs how long can they hold me liable?

[seniorjudge]

You may be liable for things you knew or should've known about.

[lcannister]

Originally Posted by Lyn_OHIO

Why would 25k bite me in the hinny? I have no problem spending money for an attorney, although I would like to understand why I would want to do that?
Thanks

Because one thinks they know what they are doing and makes a costly mistake.

Remember when Linda says she has done fsbos's in the past she is now very experienced in the process (buying and selling properties) and knows what to look for and how to cover herself.

So get an Atty to look over what ever contract you have drawn up and they sign.

As-is written on a contract is a big red flag to steer clear or offer tens of thousands less for that property. So why red flag your property? Ultimately it is up to the buyers to get the proper inspections, title searches, etc. But just because you red flag the property does NOT mean someone will not still sue you. They may or may not win but they can still sue you.

[Gadfly]

You should have an atty review what you have because we can't see the contract, etc and just because you have a piece of paper doesn't mean the words on it make any sense or are legal.