Sunday, November 15, 2009

When attempting to purchase a piece of property, who is required to get the survey of the property done?

If the buyer wants title insurance, they will need a survey and the buyer pays. If there is a previous survey, you can often pay a lower fee to the previous surveyor and get an updated one. I do not recommend buying any property without title insurance.

When attempting to purchase a piece of property, who is required to get the survey of the property done?
You are if you want to know what your buying.





Put it this way do you trust a car sales person
Reply:Depends, I had to pay for it when I bought my house, but then the deal I got offered made it all worth while.
Reply:Nobody.....well maybe in whatever state you are in a survey is required, but I know of a few states where it isn't.





If the property already exists on its own, the deed is transferred without any additional surveying. Yup, no surveying. The deed already has the information on it.
Reply:The present owners should have a survey but if a new one is required, it's usually the responsibility of the buyer. If you can, make sure you compare it to the old survey. I know of one instance where every time an adjoining property was sold my friend's property got smaller.
Reply:It depends on the state you are in and also some loan (such as VA or FHA) regulations make the Seller pay for it.


If there are no laws or regulations, then ask the seller to pay for it in the sales offer.
Reply:we just bought some land and it was our job to pay for the survey

teeth

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