eForms Logo

Ohio Residential Purchase Agreement

An Ohio residential purchase agreement is a contract between the buyer and the seller of a residential property. The information specified in the document will address the purchase amount, earnest money, inspection procedures, financing terms, and required disclosure forms.
PDF
Word
ODT
4.8 Stars | 386 Ratings
Downloads: 5,793

State Laws

Seller’s Duties – The seller is required to provide a completed property disclosure form to the buyer before an offer is made. The form outlines any known conditions and information concerning the property.[1]

Disclosure Exceptions – This property disclosure requirement does not apply if the transfer of residential property is made:[2]

  1. Pursuant to court order, including, but not limited to, a transfer ordered by a probate court during the administration of a decedent’s estate or due to bankruptcy;
  2. From a mortgagor to a mortgagee by deed in lieu of foreclosure or in satisfaction of the mortgage debt;
  3. From a trustor to a beneficiary of a deed;
  4. In a foreclosure sale that follows a default in the satisfaction of an obligation secured by a mortgage;
  5. In a sale following a default in the satisfaction of an obligation that is secured by a deed of trust or another instrument containing a power of sale;
  6. By a mortgagee, or a beneficiary under a deed of trust, who has acquired the residential real property at a sale under a mortgage or a deed of trust or who has acquired the residential real property by a deed in lieu of foreclosure;
  7. By a fiduciary in the course of the administration of a decedent’s estate, a guardianship, a conservatorship, or a trust;
  8. From one co-owner to one or more other co-owners;
  9. To the transferor’s spouse or to one or more family members;
  10. Between spouses or former spouses as a result of a decree of divorce, dissolution of marriage, annulment, or legal separation;
  11. Involving the state or another governmental entity;
  12. Involving newly constructed residential real property that previously has not been inhabited;
  13. To a transferee who has occupied the property as a personal residence for one or more years immediately prior to the transfer; or
  14. From a transferor who both has not occupied the property as a personal residence within one year immediately prior to the transfer and has acquired the property through inheritance or devise.

Buyer’s Rights – If the buyer does not receive a property disclosure form from the seller after an offer is made, the buyer may rescind the purchase agreement within 30 days of its execution in a written, signed, and dated document dated to the seller or their agent. In this case, the seller must return any deposits made by the buyer.[3]

Seller’s Disclosures (3)

Residential Property Disclosure Form (required) – When selling a residential property, the owner must describe its condition using this disclosure statement. It must be provided to the buyer before the agreement is signed.

Download: PDF

Lead-Based Paint Disclosure (conditional) – Relays information to buyers regarding toxic paint which may have been used on a property. Owners of any home built before 1978 must provide this disclosure to buyers before signing a purchase agreement.[4]

Download: PDF

Lead-Based Paint Pamphlet (conditional) – Gives general information about lead-based paint for properties built before 1978.[5]

Download: PDF

Sample

Download: PDF, MS Word, ODT

Video