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Updated over 6 years ago on . Most recent reply

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2
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3
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Josh Breadon
  • Lender
  • Cleveland, OH
3
Votes |
2
Posts

Are Point of Sale Regulations UNCONSTITUTIONAL????

Josh Breadon
  • Lender
  • Cleveland, OH
Posted

In Oakwood, OH, an investor took the city to court for their POS laws, that were eventually deemed unconstitutional, because they infringed on the citizens' 4th amendment rights.

"As provided in Thompson V. City of Oakwood, however, it seems that point of sale ordinances that call for criminal penalties (whether or not actually enforced) will most likely be held unconstitutional, at least where no administrative warrant procedure is provided. In other words, for those municipalities who have not yet done so, it is time to revise."

Who else is tired of this POS BS??? I know I am!!

Who believes that POS rules and regulations are unconstitutional and believes that the ruling should be applied to the suburbs of Cleveland? Or any other city, for that matter?

Check out the story below.. Let me know what you think! I'd love to hear your thoughts!

https://www.kjk.com/2018/03/26/former-point-of-sal...

Most Popular Reply

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32
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23
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Eric Wagner
  • Rental Property Investor
  • Sheridan, OR
23
Votes |
32
Posts
Eric Wagner
  • Rental Property Investor
  • Sheridan, OR
Replied

So my two cents... in my opinion the POS was supposed to help the neighborhood and values, however when you require repairs AND money put into escrow, frequently the only people with the cash to do the repairs AND put the same amount in escrow are investors, so we drive the price down. The seller having no other options takes the investors offer if they must sell.  I have had POS amounts of $15,000 in repairs and it had to be escrowed! So effectively I had to have $30k. $15k to pay the contractor now and then wait for my other $15k to be refunded after the city inspected it. I think POS inspections drive down the home values because of this.  The exact opposite of the stated intention. 

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