Information for Buyers

This form is required only if a residence was built prior to 1978.  The federal government requires that you disclose any knowledge of lead based paint on the premises,  as well  as  providing  to  your  buyer  a  federally  published  booklet regarding the potential hazards of lead in the home.  This must be presented to the buyer at the time the purchase agreement is signed.

These are closing costs that are payable to the local, county, or state governmental entities and relating to the transaction. Usually the only fees applicable in Ohio are county recording fees and any transfer taxes owed for documents created in the transaction, such as the deed. Transfer tax varies by county and are based upon the sales price of the property and must be paid just prior to the recording of the deed. Closing costs may also include the actual government charges for obtaining tax, utility and other municipal certification statements.

A homeowner fire and extended coverage insurance policy,  either in an amount at least equal to the total of all new mortgages on the property or 100% of the replacement cost,  will most likely be required by your lender. The lender will require you to pay for your first annual premium up front either prior to closing or at the closing to be included in your final figure.

Lender fees are the actual expenses that the lender incurs in the processing  of your loan. These fees generally are charged for items such as origination costs, appraisal,  underwriting,  processing,  document  preparation  and  administrative costs, etc.  The  buyer  should  always  request  that  the  lender  or  mortgage  broker explain all fees prior to attending the closing, as these fees may add significant costs to your closing.

All buyer(s) and their spouse(s) must bring a valid current government issued picture ID (Drivers License, passport or govement issued ID card) with you for proper identification, when you sign your documents.  If you or your spouse cannot be present to sign please contact our office so we can work out other arrangements. Some lenders will require an additional ID such as your social security card.  The signing of documents cannot take place if you do not have this identification with you

Any funds that you will need to bring to closing for the purchase of your property will require,  "Good  Funds"  only.   Good  Funds  are required  under  Ohio Code.  Good funds are a  cashier's  check  or a wire transfer. Should you need our wiring instructions or any further information please contact us.