Will you have a survey done before your coming real estate
deal? Of course, a professional will be examining the title. But a title search
does not include a survey. With a title search, the title company reviews the
chain of title, up to the present ownership. It does not reveal specific
physical details of the property.
Depending on the region of the country (and even the state)
in which the home exists, the mortgage company might or might not require a
survey. Nevertheless, either the seller or the buyer may want to hire a service
to produce an up-to-date survey. Here, we make the case for having this done —
so you can decide for yourself.
Continue reading “The Property Survey: Do You Need One?”
transactions involving home sales, deeds, mortgage loans, or deeds of
trust all rely on a binding legal
description. Mortgage companies, for example, need to
be sure that the property is well described—and worth the money they
lend to a buyer.
written legal description sets forth the county and state of the property. It
allows a surveyor to
identify precise dimensions and correct, historical borderlines.
existing legal description is based on the original survey. And
a key task of the current survey is a verification of the accuracy of the
property’s legal description. In short, real estate legal descriptions and
surveys work together.
Continue reading “How Real Estate Legal Descriptions and Surveys Work Together”