Friday, June 12, 2009

that ole survey situation again

It never fails. Several times every year we get calls from consumers who decided to get a survey some time after their purchase and guess what? They found a problem.

That's why we make a recommendation to every consumer that the only way to know what you are buying is to get a current up to date survey BEFORE you close. If you don't get that survey, we're gonna have you sign a hold harmless just to remind you later that we told you so. We make this recommendation in writing to you more than once before you go to closing because we think it's that important.

So, today, we get a call. Closed the purchase in 2005. Just got a survey now and - OH - there was supposed to be TWO lots included in the purchase but only one was conveyed.

Interesting. The real estate agent does acknowledge that the sales agreement only described the one lot. The deed and the mortgage and all documentation signed by both buyer and seller only described the one lot. It was the intention of the seller and the buyer that TWO lots be conveyed but, folks without a survey, it's hard for most folks to grasp the reality of a legal description.

No comments: