Investment Insurance

Contract Contingencies
I would say that most people who have gone through the real estate purchasing process are familiar with purchasing contingencies.  They find their “dream property” and make an offer to purchase.  If they are replacing their existing home they will typically want to make the purchase IF their current house sells.  So they put a contingency into the contract that allows them to back out of the contract if their house does not sell.  Sometimes there is a contingency for financing too so that if the lender will only finance the loan at say 18%, which may be unacceptable to the purchaser, they may back out of the contract too.  But very rarely have I seen a contingency regarding what I consider one of the most important issues in purchasing real estate…A survey!  Offers to purchase real estate should be contingent on receiving a current survey that is acceptable to the purchaser, lender, and the purchaser’s title insurance company.

Boundary Line vs. utility lines

I’ve Got this Pain…
What many people find out too late is that listening to anyone other than a surveyor about the location of boundary lines is like taking medical advice from the receptionist at the doctor’s office.  Sure, the receptionist works in the doctor’s office, and I’m sure that the receptionist may have learned something about medicine over the years.  But when it comes to health matters, I want to know what the doctor says!

Your Line is THERE. (Maybe…well, probably not.)
The importance of a survey when purchasing real property should not be understated.  I think it is safe to say that the purchase of a home is the largest investment many people make in their lifetime.  It amazes me how many times that I hear from clients after marking their property lines “THAT isn’t my property line, ‘so-and-so’ told me when I bought the house that my property line runs from the power pole in the backyard to the telephone box in the front yard…” or “along that fence,” or “along the hedge row.”  Only to find out after the purchase that the property line is actually several feet closer to their house than “that line” or “the fence” or “the hedge row.”

The Real Pain
Without a survey it is very hard to know exactly what is being purchased.  Not only does a survey show where the boundary lines are, but also the location of easements (rights of others over your property), encroachments (something that is beyond its proper limits e.g. a shed built 2′ over the property line,) and the relationship of improvements on the property to the boundary lines.  In addition, without a survey there is an exception placed on the purchaser’s title insurance that exempts any coverage for issues that would have been shown with a survey.  And that is the real pain, the purchaser didn’t get what they thought they were buying, the Realtor isn’t going to do anything about it, the Title Insurance Company isn’t going to do anything about it, and now the Surveyor just has bad news…The property line is where the property line is.

Fence...Property Line or Not?

Investment Insurance
I sometimes wish that our surveys were called “Investment Insurance.”  The price of a survey is small in comparison to the fee paid to the Realtor, very small compared to the price of the property being purchased, and a small investment to make in order to know EXACTLY what is being purchased.

We CAN help…
Give us a call, we will work with you to ensure that what you are buying is what you think you are buying!  If you have already purchased a property, we can help you too.  Being proactive can help you avoid real problems down the line.  Bosshard Surveying, LLC 920-293-4001.

Votes: 0
E-mail me when people leave their comments –

You need to be a member of Land Surveyors United - Surveying Education Community to add thoughts!

Join Land Surveyors United - Surveying Education Community

Thoughts

This reply was deleted.

Log into community to no longer see ads

Land Surveying Guides

Our Blog Sitemap

 
 

Explore Surveying Locally

USA Surveying Forums
Asia Surveying Forums
Africa Surveying Forums
Middle East Surveying Forums
European Surveying Forums
South American Surveying Forums
Oceania Surveying Forums
Surveying Equipment Support Forums
Search Survey Photos
Add Posts, Surveying Photos, Videos and Articles to the Surveyor Community
Add Stuff to Community

 


 
 
 

 

 

Latest in Surveyor Community

David Drahn posted a discussion in Hawaii Land Surveyors
I've been here 13 years but have been licensed for just 2 (surveying here foar about 10).  Is there a forum (here or ellsewhere) where we share experience in the mechanics of surveying in Hawaii?  I'd certainly use some mentorship in efficiently and…
10 minutes ago
David Drahn updated their profile
20 minutes ago
christopher lucas published an article
Earth Day at 55 – A Climate Reckoning
Earth Day has evolved from protest to policy—but the world’s environmental crisis has only intensified.

In 1970, twenty million Americans took to parks, streets, and campuses for the first Earth Day—a…
2 hours ago
Week 149: Overview of Outreach 101 & Crew Guides created by the NSPS Workforce Development Committee via GeoRadio- All Land Surveyor Podcasts in One
7 views 0 likes

Channel: Trent Keenan

Join us for a discussion and overview of two valuable resources…
6 hours ago
Episode 249 -Sean Gorman & Zephr via GeoRadio- All Land Surveyor Podcasts in One

Apologies for the audio challenges...it was one of those nights!!

In this episode, the Geoholics crew sits down with serial startup whisperer Sean Gorman, co-founder of Zephr.xyz—a company so cutting-edge it probably triangulated this…

10 hours ago
Brandon Hartney, Andrew, Stefan van der Merwe and 1 more joined Land Surveyors United - Surveying Education Community
Land Surveyor Land Surveyor Land Surveyor Land Surveyor
yesterday
christopher lucas published an article
 
The Vanishing — How AI Is Mapping History Out of Existence
It starts subtly. A parcel map is generated with stunning efficiency. A sleek interface displays terrain data, boundary lines, structures—all perfectly digitized. But something’s…
Friday
United Surveying Supplies is now a member of Land Surveyors United - Surveying Education Community
Thursday
More…