Understanding Ohio’s New Property Disclosure Laws

Effective January 1, 2024, Ohio has implemented updated property disclosure laws aimed at increasing transparency and protecting buyers. Sellers are now required to provide more detailed information regarding a property's history of flooding, fire risk, and other natural hazards. The updated Transfer Disclosure Statement (TDS) includes new sections that must be completed to ensure compliance.

As a neutral third party, our role at Best Escrow Company, LLC is to ensure that all legally required disclosures are included in the transaction file before closing. We work closely with real estate agents to verify that the documentation is complete. For sellers, it's crucial to be thorough and honest in your disclosures to avoid future legal issues. For buyers, we strongly recommend carefully reviewing these documents and asking questions about any unclear items. These laws are designed for your protection, and understanding them is a key part of a successful real estate purchase.