A Certificate of Disclosure is Now Required for All Real Property Transaction
Effective August 5, 2024 all real estate transactions within the City of Cleveland will be subject to the following modifications:
Updated Certificate of Disclosure Requirements: The Certificate of Disclosure, a vital document in real estate transactions, has been revised to include additional information pertinent to property transactions. The Certificate of Disclosure Application will be required for all real property transactions. This includes residential, commercial and industrial properties. These updates will provide buyers and sellers with comprehensive details about the property's condition, history, and potential liabilities.
Enhanced Accessibility and Transparency: The revised legislation emphasizes accessibility and transparency by making Certificate of Disclosure information readily available to all parties involved in real estate transactions. This accessibility ensures that buyers have access to crucial information to make informed decisions. This enhanced process will also enable the City of Cleveland to maintain accurate records on properties.
Streamlined Process: The new legislation introduces streamlined procedures to expedite the Certificate of Disclosure process by merging the use letter and code violation process for commercial and industrial properties. This combined process will reduce delays in real estate transactions. Our aim is to improve efficiency and facilitate smoother transactions for homeowners, buyers, and real estate professionals. The fee for the certificate of disclosure is $60 and you must continue to submit your request via the on-line portal. There will be additional questions that you will be required to answer. A sample of the revised disclosure application can be found on the Resident’s First splash page.
Mandatory Compliance: The new changes can be found in codified ordinance 367.12 enacted 2-5-24, which requires compliance with the updated Certificate of Disclosure process for all real estate transactions within the City of Cleveland. Failure to adhere to these regulations may result in penalties and potential legal action.
These changes represent a proactive approach by the City of Cleveland to uphold the highest standards of integrity and transparency in real estate transactions. We believe that these reforms will not only benefit buyers and sellers but also contribute to the overall well-being of our community.
We appreciate your cooperation and understanding as we implement these important changes. Should you have any questions or require further assistance, please do not hesitate to contact Record’s Administration staff at: CertificateOfDisclosure@clevelandohio.gov