Agency
Ohio's Residential Property Disclosure Form must be provided to the buyer:
AOnly after an offer has been accepted
BBefore the buyer makes an offer or as soon as practicable✓ Correct
COnly for properties built before 1978
DOnly for new construction
Explanation
The Ohio Residential Property Disclosure Form must be provided to the buyer before entering into a purchase contract or as soon as practicable before transfer of title, giving buyers the opportunity to review it.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
State-Specific Concepts
Disclosure Requirements
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