What Ohio Home Buyers Should Know Before Signing a Purchase Agreement

The Purchase Agreement Is the Transaction

In an Ohio real estate transaction, the purchase agreement is the document that controls almost everything: the price, the contingencies, the closing date, what stays with the property and what goes, and what happens if something goes wrong before closing. By the time you're sitting at the closing table, most of the legal work has already been done—for better or for worse.

This is why it matters to understand what you're signing before you sign it.

What a Purchase Agreement Covers

A well-drafted Ohio purchase agreement will address:

• Purchase price and financing terms — including how the buyer is financing and any deposit or earnest money requirements.
• Property description — ideally referencing the legal description from the prior deed, not just the street address.
• Contingencies — conditions that must be satisfied for the deal to close. Common contingencies include the buyer obtaining financing, a satisfactory home inspection, and the property appraising at or above the purchase price.
• Personal property — what fixtures and items remain with the house (appliances, window treatments, certain equipment).
• Closing date and possession — when title transfers and when the buyer can move in.
• Seller disclosures — Ohio requires sellers to disclose known material defects using a standardized form.

Contingencies Protect You—If They're in Writing

A contingency gives you a right to walk away from the deal—and typically recover your earnest money—if a specific condition isn't met. But a contingency that isn't clearly written into the agreement doesn't protect you, even if both parties verbally agreed to it.

Common contingencies buyers should consider:

• Inspection contingency — gives you the right to have the property professionally inspected and to negotiate repairs or a price adjustment, or to terminate if the results are unsatisfactory.
• Financing contingency — makes the deal contingent on your ability to obtain a mortgage on stated terms. This protects you if your loan falls through.
• Appraisal contingency — protects you if the property appraises below the purchase price and your lender won't fund the full loan amount.

The Legal Description Matters

Every parcel of Ohio real estate has a legal description—a precise technical description of the property boundaries that appears in the deed and in the county recorder's records. The street address is not a legal description.

Before signing, it's worth confirming that the property description in the purchase agreement accurately identifies the parcel you intend to buy, particularly if the property has been recently subdivided or if there are any boundary questions. A mismatch between the address and the legal description can complicate or delay the closing.

What Happens at an Ohio Real Estate Closing

At closing, the buyer signs the mortgage and note (if financing), and the seller signs the deed transferring title. Title insurance is issued to protect the buyer—and the lender—against defects in the title that weren't discovered during the title search.

In Ohio, closings are typically conducted by a title company or closing attorney. A real estate attorney can attend the closing on your behalf and review the closing disclosure and other final documents before you sign.

Why an Attorney Review Is Worth It

Ohio does not require a buyer or seller to have an attorney in a real estate transaction. But an attorney review of the purchase agreement before you sign—not after—gives you the opportunity to understand what you're agreeing to, flag provisions that don't reflect the deal you think you made, and negotiate changes while you still have leverage to do so.

McEndree Law LLC provides contract review and closing representation for Ohio buyers and sellers. If you have a purchase agreement you'd like reviewed before signing, contact us to schedule a consultation.