Not Receiving an Updated Survey on Closing

[Neil1]

Hi,

As a buyer, do you expect to receive an updated survey (including the dimensions of the building, etc.) as part of the purchase agreement?

Is it the lawyer's responsibility to ensure you have it or at least to ask the seller/seller's lawyer to provide that?

Does an updated survey from say the last 5 years usually exist?

Thanks

 

[Seeley]

There is no requirement by the seller to provide a updated survey. I just sold a house and provided one from 30 years ago but only because I actually had it. A new survey isn't going to show anything you can not see with your own eyes.

 

[Thomas Beyer]

You do what is agreed. Was a survey, especially a recent survey, part of the written agreement ? If not, then it is not expected, nor is it common.

 

[3canctheayr]

It doesn't hurt to have a new survey done every 10-15 years or so, or whenever there has been a physical change to the property. It's up to the property owner, or prospective purchaser to make this happen.
Some banks require recent surveys if title insurance isn't purchased.
Over time fences get erected, or replaced, sheds get built, gazebos, pools, etc. They often are put in the wrong spots, or too close to property lines. A friend of mine had to have a new neighbor tear down a new fence that was built 2 feet off from where it should have went.
On some lots that change hands frequently, neighbors have been known to take advantage of regular new faces by gradually encroaching on the land.

 

[Alvaro Sanchez]

Yes, in all my offers, I specify that a recent survey must be provided by seller.

 

[Seeley]

If the seller refuses to pay for/provide a more resent survey do you walk away from the purchase.

 

[Thomas Beyer]

[quote user="Seeley"]If the seller refuses to pay for/provide a more resent survey do you walk away from the purchase.[/quote]
If you buy a used car, and the seller refuses to put new tires on, do you still buy ?

 

[Seeley]

My point exactly Thomas.

Updated surveys are rarely necessary unless there is a major change in primary structures on the property. Plus property lines can easily be determined from the location of original structures on a property.

 

[Sherilynn]

Assuming you are referring to a Real Property Report (RPR), many banks require fairly recent RPR's before they will fund mortgages. While some banks will accept any vintage of RPR as long as it is accurate, other banks insist on an RPR that has been done within the last few years.

If the provided RPR is accurate but not recent, updating the report would be the buyer's responsibility unless the purchase agreement stated otherwise.

 

[Neil1]

Ok Thanks Everyone for your feedback.

 

[Alvaro Sanchez]

In some jurisdictions you MUST obtain a recent survey. In my experience, most have one already so seller provides it. In one occasion, I split the cost...For most part it cost around 1k for one so if would 1k kill the deal? also get title insurance in case there are issues with survey.

 

[Elizabeth Campbell]

Hi Neil,

So the answer is that in the case of most listings (residential that is), unless the home is a newer purchase, or the homeowner had an intention of sub-dividing or rezoning the lot for another purpose, the average homeowner does not typically have a recent survey. Having said that, I have come across several older homes where some owners are able to produce them from their records, as they hold on to them for many years in their files (but that is IF they were provided to them, at the their time of purchase) but then again, they would not be "recent" per say.

As a listing REALTOR for many years , we did not require this as an item to list a home, nor is it required to be provided by law to the buyer for a home to transfer title. You can however, request within your offer to purchase, to have the seller made responsible to have a recent survey done for you, and provide it to you (if they do not have a recent or acceptable one) at their own expense, as a subject to your sole benefit.

If they agree, then you are good to go!

Also be sure to word the condition such that they not only have to provide the survey to you, but that you get to "approve" it, and are satisfied with the results of it for your intended use of the property.

Elizabeth Campbell
Real Estate Investment Adviser
REIN Office