Tips For Ohio Home Buyers in 2023

As a home buyer in Ohio, you are likely to face some challenges and obstacles in the process of finding and buying your dream home. However, with the right knowledge and approach, you can navigate your way through the real estate market successfully. Here are some tips for Ohio home buyers in 2023:

1. You don't have to sign a buyer's agreement

Many real estate agents will ask you to sign an exclusive buyer broker agreement before they begin working with you. While there are some benefits to signing such an agreement, like having a dedicated agent to help you with your home search, you are not required to sign one. If you are uncomfortable with the idea, you can always work with an agent on a verbal agreement or shop around until you find an agent who does not require one.

If you have already signed one and aren't happy with your agent, ask them for a release and explain why. Chances are, they will give you the release. If they refuse, it may be time to escalate to their broker for the release.

2. Writing a strong offer

In a competitive market, it is essential to write a strong offer that will catch the seller's attention. This includes offering a reasonable price, being flexible with the closing date, and trying to utilize terms that are attractive to the seller. It is also important to have your financing in order, so the seller knows you are serious and can close the deal quickly.

What is a reasonable price? Your agent may offer you comparable home sale examples to help you decide on a price. Two things to keep in mind are, demand is high, and supply is low. Prices are continuing to rise. A home selling now may be worth more than one that sold in the neighborhood six months ago

Most home sellers are also going to be buying a home to move into. Being flexible with your closing date, and day you receive possession of the home may be a key factor to catch the seller's attention.

Every home sale is different, and every seller is going to have their own motivating factors. Some look for a sale with as little chance of falling through as possible. That is why a slightly lower cash offer can be more attractive than a high financed one, at times. Waiving inspection repairs (but still protecting yourself with an inspection) can put a seller at ease. Your agent should be checking with the listing agent to find any key motivations to help put together a strong offer. 

Whether you are purchasing the home cash or with a loan, having financing in place before placing an offer is absolutelty essential. Your offer probably won't even be considered without proof you can follow through on it.

3. What to look for

When searching for a home in Ohio, there are several factors to consider. Location is key, so think about the neighborhood, schools, and proximity to your work or other amenities. You should also consider the size of the home, the number of bedrooms and bathrooms, and any special features or amenities that are important to you. Don't be afraid to ask questions and do your research before making an offer.

In Ohio, there has been a surge of home building about every 20 years. You will often find many homes were built in the late 1920s to early 1930s. The 1950s (many of which were cape cod style homes), the 1970s, and 1990s. Between each of these builds, homes had different building standards. They all have their own thing to look out for: Is the electicity grounded, is the basement built to be finished, is the plumbing copper/galvanized steel/PEX/etc? 

When viewing a home, there a couple of things to look out for that could mean costly repairs are in the near future. Items like an old roof, HVAC system, foundation repairs, and more will most-likely be called out by a good home inspector. You can watch out for these things before getting to that point by using a couple of the following tips

- Old asphalt roofs show signs of wear with nail pops, wavy roof lines, curling shingles along the gutters, and (if you can see into them) lots of granule loss in the gutter.

- Old HVAC can be found by looking at the serial number to find the date. On the A/C, this will be on the back of the condenser, but may be inside the furnace panel. If you open up the furnace, you can also look for signs of rust which may mean leaking a/c coolant. 

- If the basement is finished and the home is built before the mid 1990s, you'll want to check to see that some sort of waterproofing was done. This could be internally with a sump pump and plastic sheeting on the walls (in an unfinished area of the basement), or french drains on the exterior of the home.

If the basement is unfinished, cracks in the walls can give you a general idea of the condition of the foundation. This goes without saying, but you shouldn't be able to see light from the inside of the home. Minor cracks happen all of the time, but if they have started to bow the wall or separate then you'll want to look further into it. 

4. Be kind

Buying a home can be stressful, but it is important to remember that you are dealing with real people on the other side of the transaction. Being kind and respectful to everyone involved, including the seller, their agent, and your own agent, can go a long way in smoothing out any bumps in the road.

Remmeber that your agent is going to be working for you for free until you close on a home. If you change your mind about an area, or who you want to work with, let them know. 

In conclusion, buying a home in Ohio in 2023 can be an exciting and challenging experience. By following these tips, you can increase your chances of finding and buying the home of your dreams. Remember to be patient, do your research, and work with experienced professionals who can guide you through the process. Good luck!