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
Before signing a Home Purchase Agreement or Contract Form, home buyers may be strongly urged by a real estate agent and/or home mortgage lender that the buyer will need a pre-approval letter from the lender. This is a common practice in the self serving and closed looped real industry where a large group eats out of the same trough. The apparent advantage is that the home buyer can show the home seller that they are more likely to be able to buy the house, even though the pre-approval letter offers no guarantee. 
Further, the pre-approval letter information will also provide the real estate agent clues regarding the highest price the home buyer might be willing to pay for the home. Since the real estate agent’s commission is directly proportional to the home selling price, the agent might have an incentive to drag this selling price higher. The real estate agent works for the real estate broker and therefore has fiduciary responsibility to the employer, the real estate broker. Therefore obtaining a pre-approval letter is a disadvantage to the home buyer. → continue reading Home Purchase Agreement or Contract Form: Preapproval Letter
Natural Gas
Methane (CH4) is an odorless, colorless, flammable gas. It is popularly known as gas. It is the major constituent of natural gas. Methane minus impurities is Natural Gas.
 Natural Gas Well versus Drinking Water Well
Hydraulic Fracturing Step 1 and 2 : Fracturing of Coal by Injection of Fracturing Fluid
To create or enlarge fractures in targeted coal bed, a thick fluid, typically water-based, is pumped into the coal seam at a gradually increasing rate and pressure. Eventually the coal seam is unable to accommodate the fracturing fluid as quickly as it is injected. When this occurs, the pressure is high enough that the coal fractures along existing weaknesses within the coal bed. Fluid leaks occurs in the coal beds.
 1. Hydraulic Fracturing Fluid Injection 
Hydraulic Fracturing Step 3: Formation of conduit with proppant
Along with the fracturing fluids, sand (or some other propping agent or “proppant”) is pumped into the fracture so that the fracture remains “propped” open even after the high fracturing pressures have been released. → continue reading Hydraulic Fracturing or Hydraulic Fracking for Natural Gas-Visual Guide
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”  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
 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
 Natural Gas in Marcellus and Davonian Shale in Appalachian Basin For new residents of Northeast Ohio, one of the lesser known facts about the region might be its association with its oil and natural gas wells. The State of Ohio has about 274,733 wells yielding 1.126 billion barrels of crude oil and more than 8.35 trillion cubic feet of natural gas. Research completed by Ohio Department of Natural Resources’s Divisions of Mineral Resources Management and Geological Survey indicates that Ohio has significant remaining producible oil and natural gas reserves.
The subject of natural gas well drilling has been controversial and contentious in the Northeast Ohio region. → continue reading Oil and Natural Gas Wells-Ohio Residential Property Disclosure Form
 Click to enlarge The Ohio Property Disclosure FormThe Ohio Residential Property Disclosure Form is a statement of the condition of the property and of information concerning the property actually known by the owner.
Click the image to see a larger version of a part of Page 1 of the Ohio Residential Property Disclosure Form (11/6/08). Read the text underlined in red related to the water supply. The form does not explain which standards will be used to interpret the term fully corrected or the rationale behind the 5 year stipulation.
According to Dennis Ginty of Ohio Department of Commerce, the Ohio Residential Property Disclosure Form was adopted in 1993. As the statute does not specifically provide for the five-year period, the establishment of that five-year period was a policy decision. At that time it was determined to be a reasonable period of time for the disclosure of those specific items. → continue reading Ohio Residential Property Disclosure Form
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About  I am a Civil Engineer from Louisiana State University. The compound word, Americaneer, is a combination of the words, American and Engineer. |
