Chicago Real Estate Practice Group Leader Peter Friedman was quoted in a Norridge Harwood Heights News article titled, "Point-of-sale and the housing market."
The article discusses the stringent requirements imposed by point-of-sale real estate inspections. Conducted by municipalities across the country, point-of-sale inspections can become deal breakers when obligatory repair costs overwhelm sellers. However, despite their potential impacts on the housing market, Mr. Friedman, who represents many state and local government agencies, believes that point-of-sale inspections are a good way to ensure compliance. "They are simply a means to enforce regulations that are already in place," he said. In his view, inspections at the point of sale make regulation convenient for municipalities that do not have the workforce needed to inspect every home. To read the full article, please visit the link below.