More than a dozen families in Montgomery County have freed themselves from decades-long real estate contracts.
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This has to do with MV Realty and a lawsuit the Ohio Attorney General’s Office filed against the company to help homeowners.
Today is the last day Ohioans can take the one-time cancellation offer.
News Center 7 spoke with a man who says he can finally sell his mom’s house after MV Realty took advantage of her.
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We have reported on this since they first caught I-Team’s attention in 2022.
MV Realty files its confusing contracts in county records at the recorder’s office.
Now, as part of Ohio’s lawsuit against the company, we’re getting a sense of just how many homeowners have told MV Realty to file new documents to cancel their decades-long deals.
Andy and Denise Reim have never been so excited about a roofing project.
“Yeah, this has been great. Yeah, so we’re finally getting the roof done. We’ll be getting closer to selling the house now,” Andy said.
It’s a sign their years-long headache courtesy of MV Realty is over.
“You’ve helped us get everything finalized and get past this realty company that kind of snuck in on my mom and giving her some money,” Andy said.
We first met the couple two years ago.
Andy told us he hasn’t been able to sell his mom’s home for years.
Ever since he learned that his nearly 90-year-old mom with dementia signed a crippling contract with MV Realty.
But the Reims have taken advantage of a big development in Ohio Attorney General Dave Yost’s lawsuit against MV, allowing homeowners in Ohio to cancel the decades-long deals they’ve signed with MV Realty.
But only for 90 days ending April 29.
The only cost?
“Paid them the $75 and we mailed everything in,” Andy said.
A $75 recording fee to record documents that will cancel the MV Contract at your local county recorder’s office.
News Center 7 checked at the Montgomery County Recorder’s office on Wednesday.
So far, 14 homeowners have taken the cancellation option made possible by AG Dave Yost’s lawsuit.
“Pretty easy, you know,” Andy said.
MV Realty’s homeowner benefit program gives people a small check up front but a big penalty later.
Three percent of the value of your home if you don’t use one of their agents to sell.
The length of the deal is 40 years.
Our I-Team investigations found that the company records the contracts as liens on properties at county recorder offices.
Andy and Denise told the I-Team how it feels now that their relationship with MV Realty has closed.
“We are free of them now, and had you not done the part that you’ve done with letting us know what to do and what to expect. It really got us through it a lot easier,” Denise said.
The Montgomery County Recorder’s Office said they do not have a termination like this from MV for Andy’s mom’s house.
The office told News Center 7 that if they get it after today, as long as it has what’s required, state law says they have to file it and it will cancel that original deal.
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