I thought the below referenced article from the Toledo Blade may be of interest to some of you inspectors!
Greg
Article published Wednesday, November 14, 2007
Inspections now needed for Toledo land-contract sales
By TOM TROY
BLADE STAFF WRITER
People who buy and sell houses under land contract in Toledo will be required to have the houses inspected and major flaws repaired, and the sales recorded by the Lucas County Recorder, under an ordinance approved yesterday by Toledo City Council.
The 7-5 vote ended, for now, a long-running battle between the real estate industry and central-city community development groups over how to prevent the sale of deteriorating houses to unsuspecting buyers.
Keith Foster, vice president of the Greater Toledo Housing Coalition, which sought the change, said the group will work with the landlords who feel the law will be detrimental to them.
“We think it’s reasonable and we think it’s good for the housing stock in general and it will protect consumers,” Mr. Foster said.
Mayor Carty Finkbeiner endorsed the land-contract inspection law.
The ordinance was recommended by a housing task force Mr. Finkbeiner appointed last year after he balked at supporting inspections for all home sales.
The real estate industry said the new inspection and repair requirements will harm the real estate market in Toledo, and was unnecessary legislation.
It noted that land-contract sales already are required to be recorded, although it is believed many are not.
