Saturday, November 19, 2011

If you win a property at auction can you back out if the survey is bad?

Thinking of buying a house at auction but do they allow you do have a survey done after you win it and can you cancel the sale if the survey comes back with poor results?





Or do you have a survey done first which will cost with no guarantee that you will win the auction?

If you win a property at auction can you back out if the survey is bad?
It's your responsibility to check all is to your liking before the auction, even arranging (and paying for) your own survey if required. An auction is binding, %26amp; the chances of 'pulling-out' of a sale are very slim. In the event, you'd need to prove that any information provided by the vendor beforehand was misleading, which would be very expensive, %26amp; possibly libellous.


At the very least, your own survey would be money well spent. I personally wouldn't spend £££££ on a property without one..


Hope this helps. :)
Reply:You have to have the survey done first -'Caveat emptor' -let the buyer beware!
Reply:Have a survey done first...Better to be safe...Not sorry.





Good luck....
Reply:quick answer - no





sold as seen
Reply:You buy it - you own it!
Reply:they will tell you before the auction, but chances are that you buy as is where is,, you can have your survey done before the auction so if you buy it ,, it's yours
Reply:its urs now. ur suppose to check the property out before you buy.


Does anyone know how much it costs to deed someone a piece of property?

I have had a piece of my property surveyed off to give to my father without calling a lawyer just yet was wondering how much it costs to get a deed drawn up???

Does anyone know how much it costs to deed someone a piece of property?
Go to www.lawdepot.com and look up "Quit Claim Deed".
Reply:All you have to do is see a lawyer and draw up papers which is not a heck of a lot. To be safe draw up papers by lawyer.
Reply:They sell blank "quick claim deeds" at any office supply store. Cost - $ 7.00 - 10.00.

Reviews

I just bought a house last April and want a survey of my property is there any way i can receive it for free?

No. Not unless you know a Land Surveyor. If you know one, you may ask them. I do some work for free, but it is usually for non profit groups. Why do you think you need a survey? Do you have an issue with a neighbor? Or are you looking to build? When you bought your property you recieved a deed description, that tells you where your corners are. You can easily use a compass and measuring tape (300 footer is best) to find your corners. If your corner markers are missing, you can use some ribbon to mark them out, but I would not recomend setting any markers yourself. When we (Professional Land Surveyors) set boundary markers, we set them EXACTLY where they should be and without the appropriate equipment, you will not be able to do so. If it an old parcel, chances are your markers are buried anyhow.


Most times new homeowners think they need a survey when they really don't. I would not recomend calling a surveyor unless you have a real boundary dispute going on, it can be a costly venture to have on come out just to show you where your corners are.





Hope this helps

I just bought a house last April and want a survey of my property is there any way i can receive it for free?
If you want a property survey, you're on your own to hire a surveyor and pay for it. Surveys are NOT free anywhere.
Reply:No, you must pay for one.
Reply:nobody wants to pay for anything anymore, no wonder we're in a recession. what's with you -- do you support slavery? you want someone to use their time and talent and resources to benefit you.
Reply:Your Title Report should include a very good description of your property.
Reply:Sometimes you can check the internet for a property tax and land value grid. Some places put exact dimensions of your property on there.


How long would it take to survey a property if it was 4miles by 4 miles?

There is no definite answer, it depends on several things:





Is the land in a city or is it out in the country?





Is it exactly square in shape or oddly shaped?





Does it have roads and buildings or is it vacant?





Is it flat or is it in the mountains?





Is it open or is it full of trees?





Is it dry or are there swamps, lakes or creeks?





There are lots of other things that could make a big difference, such as whether or not it has been surveyed before, recently or long ago, and how many other people own the land surrounding the property.





It could take as little as one week at best, or more than a year if its in a difficult and complicated location. Provide this info to a professional surveyor, and they will give you an estimate of the cost.

How long would it take to survey a property if it was 4miles by 4 miles?
That would take a very long time. You shouldn't do more than 100 feet at a time. So that would take a long time.


When you have a basic survey carried out on a property youre buying, what does this include them checking for?

Please can you be as detailed as possible in your answer. Thanks for all replys

When you have a basic survey carried out on a property youre buying, what does this include them checking for?
the report should include....





a description of the property (no of rooms, freehold/leasehold, type of heating, whether roads are adopted, its market value etc)





a condition statement ( overall condition, any structual movement, essential repairs, advice)





an energy rating report








When i had mine done, they came in and measured each room (and the garden), checked in the loft etc.
Reply:The term Surveyor seems to have different meanings in different parts of the world... here a Surveyor would indicate a Land Surveyor (property boundaries, splits, etc). The first poster mentions what I would call an appraiser (values the property based on current market conditions) or possibly an inspector (check for structural integrity). What type of Surveyor are you referring to???
Reply:The last survey I had, the surveyor was in the house all of 5 minutes, he went upstairs, jumped up and down on the floorboards in one of the bedrooms, said "seems sound to me" and off he went.
Reply:Hi,we went for a basic survey %26amp; I can tell you we found out quite a lot wrong with this property however on saying that.We got it at a good price.I would advise anyone to go for a full survey regardless of age of property.I prefer older properties %26amp; our home has been well insulated.Good Luck
Reply:A mortgage valuation can be a simple 'drive-by' to see what you're buying matches the mortgage application. Have known this to be done by some companies.





A Home-buyers survey usually takes 30mins or so, and will include going around every room looking for visible signs of damage or areas in need of attention.





A full survey takes an hour, and will include looking for damp, lifting carpets to check floor boards etc. This is usually left for much older properties
Reply:If you are having a "basic" survey done then it will not include very much. It will NOT include an energy report unless the property is 4 bedroom + and in which case the energy report will be in the HIP not the survey.


The survey will include:


type of accomodation,


size of property ie 100 sqm floor area.


area: residential, suburban,


age and basic detail of construction ie


1920s' two bed mid terrace. Solid brick construction under a pitched tiled roof.


Legal advisors should advise on flying freehold etc.


It will list any MAJOR defects - but not if there is a tiny bit of damp in the corner of the front reception room.


The price and insurance reinstatement figure will also be given.





The basic survey is basically for the mortgage company not for you its just to tell the lender that yes, this house isn't about to fall down and in the worst case the lender could sell it on and get their money back.





Would advise that if you are buying an older property that you have a more detailed survey.





Contrary to popular belief unless you have a very low loan to value ie you are borrowing less than 50% of the value of the property it is incredibly unlikely that the survey will be in the form of a drive by.


A homebuyers survey on a normal two bedroom house should take a minimum of 1-2 hours.


A full survey would not include lifting carpets as all surveys (according to the governing body RICS) have to be "non invasive" so surveyors are not allowed to move furniture, lift carpets etc. We can look in drains and lift manhole covers where possible.
Reply:found this website that will answer your questions http://www.tickeverybox.com/
Reply:Basic mortgage valuation is basically what the eye can see on the part of the valuer. Usually takes about an hour and is really just to make sure for the lender that the property they are lending on is suitable security and that it is sound and the value being paid is correct. Other than that it should not really be relied upon as the only survey when buying a property.





For greater peace of mind you should consider having a flat/homebuyers report instead


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

How lon does it take to clear a title on overlapping property?

I have been waiting for 2 months to close on property I am selling. The title company says there is an overlap from adjoining property. One survey says adjoining lot is 50 ft and a more recent survey says it is 55 ft. They say I might have to file a lawsuit to get it cleared up. Is there any other way?

How lon does it take to clear a title on overlapping property?
It depends on your neighbors. If they will allow you that 55ft or if you have to sue them for it.