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Sales, Rentals and Education!!!

Serving the Greater Cincinnati Area as a Licensed Real Estate Agent, since 2001. Also, an Adjunct Real Estate Instructor for Hondros College.


Buying or Selling?.... www.ACincyHome.com

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Interested in a Career in Real Estate?!?

Check out: www.Hondros.com


Contact me for more details: al@alrosser.com

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Wednesday, June 15, 2016

June is National Homeownership Month: Protect yourself from illegal buying and selling practices

Provided by the Ohio Department of Commerce

The housing market is booming right now, and as more Ohioans buy and sell property, it is important to protect yourself from illegal practices that you may not even know are unlawful. Two common areas are unlicensed real estate activity and unlicensed property management.

Beware of seminars that may teach unlicensed activity

One of the first areas to be aware of is seminars that teach unlicensed real estate activity. These seminars provide instructions on wholesaling and option purchase contracts. Language included in these schemes include: “tying up the real property,” putting the house in contract until a buyer is found and placing the home in contract for the purpose of re-selling the property.

The seminar instructors tell attendees that they can place a property in contract or an option to purchase, at which time the attendee can then market and re-sell the property for a profit. The instructors also advise attendees how to bring buyers and sellers together through the use of an “assignable contract” for a fee.

It is the position of the Ohio Division of Real Estate & Professional Licensing that, pursuant to Ohio law, an Ohio real estate license is required for this practice. There are legal ways to wholesale property in Ohio, but the seminars typically generalize information that may or may not be correct in all 50 states. For example, licensure requirements or the potential requirement for a license is not conveyed to attendees of these seminars, presentations or coaching programs.

What can happen in these situations is a buyer (buyer #1) will put an offer on a home, but put little to no money down on the property. Buyer #1 then lines up another buyer (buyer #2). Buyer #2 actually pays for the home on closing day, and buyer #1 walks away with the difference. The seller may never be aware that a buyer was willing to pay more money for their property.

If the home is sold at a loss, the seller could be expected to pay on the loss as taxable income.

“This is a no-win situation. Often times, seminar attendees are unaware that this practice is illegal and they could face penalties for unlicensed activity,” Anne M. Petit, Superintendent of the Division Real Estate & Professional Licensing, said. “It also keeps buyers, sellers, and often times lenders, in the dark, and that can be detrimental to the entire real estate industry. When you’re buying or selling a home, you want to be able to trust the individuals working with you, not worry about what they could be keeping from you.”

Property management requires a license in Ohio

Another issue to be aware of is unlicensed property management. Only a licensed real estate broker can engage in property management for another and for a fee. If you are hiring someone to manage the real estate you own, make sure the individual or entity is an actively licensed real estate agent. The licensee must run all property management services through the licensed real estate company where their license is affiliated. This can include renting or selling your property or negotiating leases.

Consumers should check with the Division to see if the individual he/she is working with is licensed before engaging in any contract or agreement.

Licensees or anyone interested in getting involved with the real estate profession should be familiar with the requirements for licensure and can check with the Division if any questions arise. Finally, if you suspect unlicensed activity is occurring, please report it to the Division. You can do all of these things by calling (614) 466-4100.

Friday, June 3, 2016

Great Information about Wholesaling from the Ohio Division of Real Estate...

Check out the video: https://youtu.be/9fi54S8nwUA

Thursday, November 6, 2014

3729 Alaska Court - Multi Family FOR SALE!!

3729 Alaska Court, Cincinnati, OH

Get Directions Click Here

 
Description Features Photos Maps & Local Schools
 
$ Click for current price

4 BEDROOMS

2 BATHROOMS (2 full)

2192 Square Feet

 
2-2 bedroom spacious units on a Quiet, Dead-End Street. Off street parking, including a garage and a nice yard!!
 
Al Rosser

Sales Agent; V.Pres - Education

ERA Real Solutions Realty

513-201-7671

al@alrosser.com

L2L
ERA REAL Solutions Realty works with sellers, buyers, developers and investors all throughout Cincinnati, Columbus and all of Ohio. ERA REAL Solutions Realty. Equal Housing Opportunity.

Sunday, October 26, 2014

Another Happy Client!!

Excited to announce the selling of another home to another happy client!! This is a new construction home in the beautiful Elk Run subdivision in Liberty Township. 3 bedroom, 2.5 bath home with 2nd floor laundry, 2 car garage, bonus room and great yard!

Call me TODAY to start your process of buying or selling your home!! Visit www.ACincyHome.com

Al Rosser, Sales Agent, Vice President of Education
513-201-7671 Call/Text
al@alrosser.com



Thursday, October 23, 2014

INSPECTION VS APPRAISAL

A home inspection and an appraisal are two completely different things.

Home Inspection: A complete physical inspection of the entire premises by an inspector of the buyer's choice. This is an optional contingency in a Purchase. However, it is highly recommended especially for an owner-occupant buyer. Many investors don't get an inspection because they intend to rehab the property anyway.

Appraisal: An opinion of value of property by a licensed or certified appraiser, usually chosen by the lender. In a loan transaction, an appraisal is required by the lender to make sure the house is worth at least what the buyer has agreed to pay. This process involves mostly the gathering of general and specific data about the subject property and similar homes that have recently sold in the area. There is a brief and minimal inspection of the property in most conventional appraisals.

Call me for a Free Consultation TODAY!

 
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