This pamphlet explains the dangers of lead in your home and how to protect your family from lead-based paint hazards.  Here is the EPA's pamphlet for your safety!

For more information, visit the EPA's website:

https://www.epa.gov/lead

The market is always changing. Determine your home's value today!  Contact Royer Realty for your free, no-obligation market analysis and let us help reach your real estate goals!

Understanding Owner’s Title Insurance in Ohio: What You Need to Know

If you're buying or selling a home in Ohio, the term “owner’s title insurance” is mentioned during your real estate journey. While it may seem like just another cost at closing, owner’s title insurance plays a role in protecting your investment and giving you peace of mind long after the keys are in your hand.

What Is Owner’s Title Insurance?

Owner’s title insurance is a one-time purchase made at closing that protects your ownership rights against potential future claims or legal issues tied to the property’s history. These could include undisclosed heirs, errors in public records, unpaid taxes, or even fraudulent documentation. Without title insurance, you could be financially liable for these problems—even if they occurred before you bought the home.

🏡 Owner’s Title Insurance Policy

Who it protects:
➡️ You, the buyer/homeowner.

What it does:
This policy protects your ownership rights to the property. It covers you against issues like:

• Undisclosed heirs

• Forged signatures or fraudulent deeds

• Errors in public records

• Liens or unpaid taxes that weren’t discovered during the title search

Cost:
One-time fee paid at closing. Who pays? Commonly the buyer.
Optional, but recommended, especially for cash buyers.

Coverage lasts:
As long as you own the property.

🏦 Lender’s Title Insurance Policy

Who it protects:
➡️ The lender (not you).

What it does:
This policy protects the mortgage lender's financial interest in the property. If there’s a title defect that affects the lender's collateral (the home), this insurance covers their losses.

Cost:
Often required by the lender.
Also a one-time fee paid at closing (usually by the buyer).

Coverage lasts:
Until the loan is paid off.

Key Differences at a Glance:

Final Word

Even if a lender’s title policy is in place, you are not covered unless you also purchase an owner’s title insurance policy. It’s a small cost compared to the potential financial loss if a title problem arises after closing.

Still have questions? Contact your title company or a knowledgeable real estate expert to walk you through the specifics.

📞 Or better yet, call Royer Realty at 937-592-7653 or visit www.royerrealty.com — we're here to help you buy with confidence and protect your investment from day one.

For more information, please check out some of these links.

• Ohio Department of Insurance
  • https://insurance.ohio.gov/consumers/homeowner/all-about-title-insurance
• All About Title Insurance PDF by the Ohio Department of Insurance
  • PDF Link Click Here
• Consumer Financial Protection Bureau
  • https://www.consumerfinance.gov/ask-cfpb/what-is-owners-title-insurance-en-164/
• Owner's Title Policy Fee Calculator
  • https://facc.firstam.com/
  • https://www.oldrepublictitle.com/rate-calculator/ Rate Calculator | Old Republic Title

Please note: Some title companies may require that an Owner's Title Insurance Policy be purchased or charge a higher closing fee without it. Please be aware that this can happen especially on cash purchases. Please ask the title company involved in your transaction (or ones being considered for hire) for details, costs and requirements as fees and requirements do vary.

For an interactive version with hyperlinks to services' websites, please check out our Utilities page: 

https://www.royerrealty.com/utilities/

If you have any suggestions for this page, please let us know!

A Loan Red Flags: Minimum Property Standards for FHA, USDA, and VA Loans

When applying for an FHA, USDA, or VA loan, it's important to understand the minimum property standards that a property must meet in order to qualify for financing. These standards are set to ensure that the home is safe, secure, and structurally sound for its occupants. The U.S. Department of Housing and Urban Development (HUD) mandates these requirements, which are often reviewed during the home appraisal process.

In this blog post, we will guide you through common red flags to look out for when working with these types of loans. Whether you're buying a home or refinancing, these issues can affect the approval process and may require repairs or adjustments before closing.

Minimum Property Standards: What You Need to Know

The FHA, USDA, and VA loans all have specific property standards to ensure the safety and livability of a home. The key areas of concern include:

1. Safety: The property should be safe for the occupants, with no hazards that could harm them.
2. Security: The home should be secure, protecting the property from damage or theft.
3. Soundness: The home must be structurally sound with no defects that affect its integrity.

These standards are enforced at the discretion of the appraiser, who will look for potential issues with the property. Below are some red flags to be aware of when purchasing a home through one of these loan programs.

Red Flags to Look for When Working with an FHA, USDA, or VA Loan

1. Defective Paint

• Issue: Chipping or peeling paint, particularly on the exterior.
• Why it matters: Lead-based paint hazards are a significant concern, especially in homes built before 1978. Homes with defective paint cannot be approved without repairs.

2. Leaks (Roof, Plumbing, etc.)

• Issue: Active leaks in the roof, plumbing, or other areas.
• Why it matters: Leaks can lead to water damage and structural issues, both of which are not acceptable in these loan programs.

3. Non-Functioning Mechanical Systems

• Issue: Water heaters, HVAC systems, and electrical systems not working.
• Why it matters: All utilities must be operational, including heating, cooling, and hot water systems.

4. Missing Handrails or Porch Rails

• Issue: Missing or damaged handrails or porch rails when there are 2-3 steps or more.
• Why it matters: For safety, handrails are required in areas where there are steps, and missing rails may prevent the property from meeting the minimum standards.

5. Floor Coverings

• Issue: Missing or damaged floor coverings.
• Why it matters: Floors must be in good condition, and missing coverings could raise concerns about the property's condition.

6. Smoke Detectors

• Issue: Missing smoke detectors.
• Why it matters: One smoke detector is required on each floor of the home to ensure fire safety.

7. Wood-Destroying Insects

• Issue: Evidence of active or previous wood-destroying insect damage.
• Why it matters: Pest damage can compromise the structure of the home, which is a concern for lenders.

8. Trip Hazards

• Issue: Cracked or uneven sidewalks, or poorly installed carpets.
• Why it matters: These can create safety hazards for the homeowners and must be repaired to meet standards.

9. Gutters and Downspouts

• Issue: Gutters not functioning properly or water not directed away from the foundation.
• Why it matters: Proper drainage is necessary to prevent water damage and foundation issues.

10. USDA Loan Restrictions

• Issue: Issues with multiple parcels or income-producing buildings.
• Why it matters: USDA loans typically do not allow multiple parcels of land, and income-producing farm buildings may complicate the loan process.

11. Well and Septic Requirements

• Issue: Well and septic systems must be a minimum of 50 feet apart.
• Why it matters: Proper spacing is necessary to ensure clean and safe water and waste management.

12. Proximity to Gas Stations

• Issue: Homes located too close to gas stations (less than 300 feet).
• Why it matters: Homes located near fuel sources are considered fire hazards.

13. Exposed Wires

• Issue: Exposed electrical wires that are not properly secured.
• Why it matters: Exposed wires can create fire and electrocution hazards.

14. Broken or Cracked Windows

• Issue: Broken or cracked windows.
• Why it matters: Windows must be secure and free from damage to meet safety and weatherproofing standards.

15. Poor Workmanship

• Issue: Evidence of poor or unprofessional construction.
• Why it matters: Subpar workmanship can affect the home's stability and safety, preventing it from passing inspection.

16. Crawl Spaces with Debris

• Issue: Crawl spaces filled with debris or trash.
• Why it matters: Clean and accessible crawl spaces are necessary for inspections and maintaining the home's integrity.

17. Anti-Flipping Laws

• Issue: Resale of properties within 90 days of purchase.
• Why it matters: FHA-insured mortgages cannot be used for homes sold within 90 days of the seller’s acquisition, unless specific exclusions apply. From days 91-180, a second appraisal is required.

What Should You Do If You Notice These Red Flags?

If you encounter any of these issues while house hunting, it’s important to bring them up with your REALTOR® or lender. The FHA, USDA, and VA loans all have specific guidelines that must be met for a home to qualify for financing. If you're not sure about a specific issue, always ask your lender for clarification. They will help you navigate the next steps and determine if repairs are required before your loan can be approved.

Call to Action

If you're considering purchasing a home with an FHA, USDA, or VA loan, it’s essential to understand the property requirements. Working with an experienced real estate agent can help ensure that you find a home that meets all necessary criteria. Contact us at Royer Realty today to get started on your home-buying journey!

When you buy a home, you will need to coordinate transferring utility services into your name (water, sewer, trash, gas, phone, etc).  It can take several days to get services established; plan accordingly to avoid outages!

Here is a link to a list of local providers.  Ask your agent to help you find out which providers serve your new home!

https://www.royerrealty.com/utilities/

Also, Logan County Recycles! Check out this webpage for more details on trash/recycling options in Logan County: https://logancountyrecycles.com/

Our goal is to position your home to attract the maximum number of buyers in today's market.  More buyers typically means higher prices, better terms and shorter days on the market.

There are really only three responses from the market:

If your property is not being shown,
it means the agents think your price is too high for the area/neighborhood or size.  

If your property is being shown, but you are not getting any offers,
it means that the buyers are finding nicer homes for the money. 

If your property is in the running, but the buyers buy something else,
or if the buyers view your property a second time, but buy something else, it means that we are close.