Tuesday, January 10, 2012
Why You Must Have A Survey Before Closing On That House
A survey costs a few hundred dollars but the information it can provide you can be priceless. I recommend to every buyer to have a survey done on the home they are purchasing. there are many reasons as to why you should have one; and really MUST have one.
First, is encroachment. Encroachment is when someone else ( a neighboring home) places something on your property. Some examples are storage sheds at the back of yards or fences. There are no guarantees because the fence is erected and the shed has been there for what looks like a little while that they are not on your property.
I sold a couple of homes last year where four neighbors bordered my buyer's backyard. All four had fences which led to the seller just piggybacking off of them to close in his yard. When we had a survey done we found ALL of the neighbors had encroached on the property. it was not just an inch or two. We were talking in the feet. A very noticeable encroachment all the way around. This has ramifications based on how long this was like this and what is the buyer to do if she goes to sell the house.
After a period of years if nothing is said or done the encroachment becomes part of the neighbors property thus decreasing the potential value of the house and hindering it's resale with that issue unless it is addressed upfront.
Second, do you know where the property lines are for a house? On most homes you can get a safe gage as an approximation of where the property lines are. But what if they are not "normal" property lines? I just had an occasion where the builder did something wrong and cut half of the front yard to the neighbor and then gave half of that neighbors back yard to the other house.
We caught ti because of a survey. Who wants to own a house where half of what normally would be your front yard does not belong to you and you own half of your neighbors back yard? it explained a lot as to why this home was on the market for a long time period.
Third, if you want to do anything to your property or cut any trees down or put up a fence you need to know where your property lines are...or you could be facing taking it down or destroying someone else property.....
A survey is not a luxury anymore when buying a house but a necessity....Do not purchase that home without having a survey done first.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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