Point of Sale Inspections (Cleveland, Cleveland Heights: foreclosure, house, transfer)

[WILWRadio]

While doing some research on the Cleveland area I noted several communities have something called a POS or Point of Inspection requirement prior to the Seller transferring the title of a home to the Buyer.

Who is responsible for making the necessary repairs if they are deemed serious enough by that community that the home cannot be occupied until they are completed? The Seller or the Buyer? I noted that Cleveland Heights lists something called Class A Violations City of Cleveland Heights, OH : Escrow Requirements that have to be addressed immediately or by creating an escrow account to fund the repairs. But it is unclear as to who is responsible for the repairs based upon what I've read.

[L2DB]

It depends on how the deal is negotiated. Buyer can require that seller fix things and seller can refuse. Anything not resolved prior to close is on Buyer. If it's major and funds go into a holding escrow account, the buyer would own the property and use funds from the escrow account to make the repairs.

AFAIK.

[ECBeastor]

If a house is in foreclosure or bank-owned, many cities will have a POS list attached to the MLS listing and the listing will say that it is up to the buyer to make sure all POS items are fixed in XX days.

Like L2DB said, in a normal transaction, the buyer will list all things they want taken care of before the purchase and it's up to the seller to fix or negotiate a resolution with the buyer (i.e. lower the selling price).

[WILWRadio]

Thanks for the info. This was enlightening.