Wednesday, July 9, 2008

Chapter 12 - The Survey

You should take a look at the survey of the property and make sure that the metes and bounds legal description matches that on the title commitment. You should also be able to see how the house is situated on the survey plat and if there are any encroachments on the property.

The survey is ordered and paid for by the seller and is something that the lender and title company will require. The sellerfs attorney has a responsibility to give you a copy of the survey prior to the closing if you are representing yourself. If you have an attorney representing you, the sellerfs attorney should give him or her the survey.

Your real estate agent cannot go over the survey with you and give you any sort of legal advice. If there is something wrong with the survey, your lender should catch it. But they might not. This is why it is important to either have knowledge of surveys and real estate law or hire someone to help you out who does have some knowledge.

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