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 loaded.

First do no harm, is one of . . . → Read More: 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 these forms only give a false sense of the property condition to the home buyer.

States Without A Residential Property Disclosure Form

• Alabama,
• Arkansas,
• Kansas,
• Vermont,
• West Virginia and
• Wyoming

City of Stow Enhances Ohio Residential Property Disclosure Form

City of Stow enhances Ohio Residential Property Disclosure Form-Click to enlarge

The buyer has a need of a hundred eyes, the seller needs one- Spanish Proverb

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 . . . → Read More: Be naive, don’t 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:

1. The home builder
2. The seller’s real estate agent
3. The buyer’s real estate agent
4. The home seller
5. The buyer’s real estate agent
6. The real estate broker
7. The lender
8. The mortgage broker
9. The home inspector
10. The home insurance business
11. The title company
12. The local home maintenance businesses

A wolf is necessary to keep the fox on the straight and narrow.  A detail oriented real estate attorney is the best deterrence to gray area practices and to represent a home buyer’s best interests.  If the real estate attorney happens to be from the same city in which the home is located and is knowledgeable about the current real estate conditions, even better.  A real estate attorney may explain to the client:

1. Why a quitclaim deed is inferior to the warranty deed
2. If you live in a recourse or an anti-deficiency/non-recourse state
3. The differences between the two party mortgage and the three party deed of trust
4. Whether your state uses mortgage or deed of trust mechanism.
5. The differences between a judicial and non-judicial foreclosure
6. Anti-deficiency clauses, if any, for your state.
7. Why it is disadvantageous for home buyers to use a “standard” Home Purchase Agreement Form

The lender knows the answers to the above issues and the borrower should too.  What could happen if you don’t hire a real estate attorney to face the real estate cartel?    As an example, read about Bonita Bay Group and Bonita Bay Residents-An Issue.  What do you think?  Hiring a real estate attorney is worth the few hundred dollars or not?

A fool and his money are soon parted-Thomas Tusser

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.

Backwater valves are installed to prevent or reduce . . . → Read More: 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 the frequency of sanitary and storm water backing up on the mainline through the lateral and flooding a basement.  This backing up condition is referred to as backflow.  Backflow can occur due to 1. obstruction and/or 2. the collection system reaching its capacity.

Who may need a Backwater Valve?

If your home is located on a sloping street and your home is at a lower level than other homes on that street, you may be subject to backflow. Folks who are considering a home purchase on a sloped street should carefully look into this location location location consideration, if feasible, in concert with an appropriate expert such as a plumber, home inspector.  Further, the best backwater valves and the backwater valve monitoring system are not inexpensive.  The above graphics, obtained from public sources, indicate a few configurations where backflow may be expected.

Backwater Valve Location

The location of plumbing fixtures in the basement does not always indicate the need for a backwater valve, unless these fixtures drain to the mainline by gravity.  In instances, where basement drains are pumped up to a upper drain and the pump outlet is provided with a check valve, a backwater valve may not be needed.

The backwater valve should be properly located and installed.  The backwater valve is installed as shown in the second figure from the top.  The backwater valve should be located upstream of the foundation drains or downspouts connected to the laterals, otherwise the homeowners may flood themselves.  Also the backwater valves should impact the basement drain only.  Homeowners should always consult an appropriate expert.

Backwater Valve Permit

You may need a permit from your local municipality to install a backwater valve.  I think municipal permitting becomes necessary because an improper installation of a backwater valve could push the backflow into a neighboring basement that did not previously was not subject to backflow.  I reckon there could be instances where residents have installed backwater valves without obtaining a necessary permit; after all, enforcement resources are not unlimited.   Sometimes people blame their local municipality for their basement and residential flooding problems and this is often without a sound and sufficient reasoning.

Other Backwater Valve Considerations

In some instances, basement floor drains may be connected to the municipal stormwater collection system.  This isn’t kosher, within the context of the Clean Water Act and the NPDES Phase 2 Storm Water Program; the basement floor drains should be connected to the municipal sanitary sewer collection system.

The backwater valve is imperfect.  Its prudent to consider avoiding buying a home that is located on a lower level than other homes on a sloping street.  Basements can be versatile additions to a residential property, particularly in north and northeastern parts of the country.  A basement can have multipurpose utility, however, installing drains in a basement may lead to complicated conditions, in some cases.  Its a bit unlikely that you will hear this from your real estate agent.  It would also be fair to expect that location and properties that are prone to flooding due to a gravity challenged location might be subject to higher home insurance rates.  Further, it would be reasonable to expect that properties that have resulted in multiple requests for reimbursements for flooding damage are likely to be flagged.

Does your home need a Backwater Valve? Source: Town of Las Gatos, California

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 . . . → Read More: Cleveland Foreclosure Auction]]>

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.

I walked away from the auction thinking that buying a foreclosed property, at an auction, not knowing the details about it, was not for me.  I reckon there was a story behind every property that got sold and bought on that day.  Also lessons to be learned.