Floor Joist Bridging

A Solution For Bouncy or Shaky Floors

Nailing the floor joist bracing may be a ‘Rainy Day Job’.  If the nailing is inadequate, it should be completed when the floor is not . . . → Read More: Floor Joist Bridging

States Without A Residential Property Disclosure Form

Most states have their own Residential Property Disclosure Forms.  Ohio Residential Property Disclosure Form prescribed by Ohio Department of Commerce, Division of Real Estate and Professional Licensing is relatively weak. As a comparison, New York has a better Property Condition Disclosure Statement but its far from comprehensive.

First do no harm, is one of the concepts of medical ethics that all medical students are taught in medical school.  The real estate industry is generally alien to this concept.  The idiom dog eat dog describes the real estate industry better.  In my opinion, not having a State prescribed and real estate industry engineered Residential Property Disclosure Form is the better path because → continue reading States Without A Residential Property Disclosure Form

Contingency Clauses in THE Ohio Home Purchase Agreement (or Contract) Form

What is a Standard Home Purchase Agreement (or Contract) Form?

I don’t think there is any such thing as a Standard Home Purchase Agreement (or Contract) Form.  When a home buyer in the Cleveland, Ohio area (a similar practice might be prevalent in other areas) is ready to make a purchase offer to a home seller, a real estate agent, may present to the home buyer, a Home Purchase Agreement (or Contract) Form, which the agent may refer to as the “Standard” :roll:   I call it the Standard Home Purchase Contract for Sheeple.  This contract form may be a rudimentary real estate document authored by a local real estate body or group.  It does not mean that the home buyer (or the home seller) is legally required to use this so called Standard Home Purchase Agreement (or Contract) Form.  Make no mistake when it comes to this form; this document is arguably the most important document in the arduous home purchase process.  I have two words regarding this Standard Home Purchase Agreement, BUYER BEWARE.  In my opinion, this standard contract strongly favors the home seller; it shields everyone but the home buyer.  Hire a real estate attorney, don’t be penny wise and pound foolish when it comes to a home purchase.   → continue reading Contingency Clauses in THE Ohio Home Purchase Agreement (or Contract) Form

Be naive, don't hire a real estate attorney

How to hire a real estate attorney

A real estate player and a naive home buyer

They might tell you that “you don’t need a real estate attorney”.  They might tell you that “its a waste of money” to hire a real estate attorney because the home buying process uses standardized forms.   They might tell you that its not the practice to hire a real estate attorney in your town, city, area or state.  They might tell you that most people do not hire a real estate attorney.

One or more of the following parties may have a vested interested (they eat from the same trough) in a home buyer, buying a home, any home: → continue reading Be naive, don’t hire a real estate attorney

Basement flooding, wet basements and backwater valve

Lower basement drains may need a backwater valve to prevent basement flooding. Source: Unknown

Basement fixtures below red line may need backwater valve to prevent basement flooding-Source: City of Worcester

Click on the backwater valve graphics to enlarge them.

What is a Backwater Valve?

Backwater valves are installed to prevent or reduce . . . → Read More: Basement flooding, wet basements and backwater valve

Cleveland Foreclosure Auction

cleveland_foreclosure

Cleveland Area Foreclosed Property Auction

Curiosity took me to a real estate auction for properties in foreclosure in Cleveland and Northeast Ohio.  It was held on November 8, 2008 at the Holiday Inn in Strongsville.  I had received an email from Joseph Kutina about this auction.  Joseph Kutina is with Reo Property Consultants in Strongsville, Ohio.

Each property that came up for bid was put up on the screen and bids were solicted.  The folks in the blue shirt noted the bids.

A lady who sat in front of me lost a bid for a condo in Sagamore Hills, her last bid was $18,000.  The highest bid for the condo was $20,000.  She look at the bid winner and then walked out of the hall after this condo auction with a look of disappointment.  A couple of young women had the winning bid at $1700 for a property.  A property in the Elyria area received a maximum bid of $100, yes, one hundred bucks. → continue reading Cleveland Foreclosure Auction