Upcoming Foreclosures

Ohio's Residential Disclosure Law?

Does anyone know if foreclosures are exempt from ohio property disclosure becuase I read on the Cleveland city website that forclosure properties does not need a certificat of disclosure becuase it isnt a voluntary sale and certificate of disclosure is only necesary for voluntary sales.

Public Comments

1. Disclosures are generally not necessary for foreclosure sales, since the seller of the property is the lender, and has no idea of the condition of the property, never having seen same. It's impossible to disclose anything about a property when you've never set foot in it.
2. The only transactions which are exempt are the following: 1. unimproved land 2. commercial/industrial property 3. new construction 4. some foreclosure actions 4. court-ordered sales 5. transfers between co-owners or those resulting from a divorce 6. inherited property where the seller has not resided in the property for one year prior to the sale 7. state or governmental entity transfers 8. sale to a tenant of more than 1 year 9. transfers by fiduciaries in administering an estate, guardianship, or trust In your case, and because of the area...the city of Cleveland may mandate it. Whether the sale is voluntary or not doesn't seem like just cause. The key would be if the seller had legal title to sell the property. Even if the seller doesn't know...they can indicate that as such.
3. If it is an REO, the lender will have no knowledge of what information to put in a disclosure. In most areas, REOs are either exempt for disclosures, or if required, place the answer of 'unknown' on the form.