While it isn’t illegal for someone to sell real estate themselves, it is illegal if someone sells real estate and takes a commission without being a licensed real estate agent.
Category Archives: Real Estate Law
Legal-Ease: How people acquire real estate without money
You may have seen late-night infomercials that mention tricks to obtain property with little or no money. Ohio law provides for an upfront method of acquiring real estate without money or any “secret deals” or other tools mentioned in these late-night television offerings.
Legal-Ease: Who pays what closing costs
Spring is often the busiest times for home sales and closings. As you go into your home sale, it’s good to know what is customary regarding the closing costs.
Federal law requires that the buyer of the home receive an estimate on closing costs (if they’re borrowing money for the purchase of the home) several days in advance of the closing.
Legal-Ease: How do I buy a new-to-me house?
Interested in buying a new home but not sure where to begin? Lee recommends that you start by talking to local banks and credit unions. Once you have an idea of your budget, consider more seriously looking into local real estate. Or you can consider hiring a real estate agent if you don’t want to investigate local homes on your own.
Legal-Ease: Life estates, sequential ownerships in real estate
Ohio law allows for sharing arrangements when it comes to real estate. A number of options exist when it comes to life estates and sequential ownerships in Ohio.
Legal-Ease: Different deeds, different promises by the seller
The three most common types of deeds are warranty deeds, limited warranty deeds and quit claim deeds. Each type of deed in real estate is different in its own way, especially in what it promises from the seller.
Legal-Ease: Options, rights of first refusal are distinct tools
While options and rights of first refusal are two very different concepts, people commonly confuse them and their very different uses.