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Surveys why does my lender and title company want one?

Why Are My Lender and Title Company Saying I need a Survey?

We live in a perfect world, where no one makes mistakes... right? People don't build houses or garages on the wrong lot, and always build the fence on their own property. If that were the case, professional land surveyors and attorneys wouldn't be needed near as much. Unfortunately, these things do happen, and probably more frequently than you think. Here's what the lender and title company are looking for:

  1.  Are all the improvements on the right lot?
    Their main concern is to make sure that the home, detached garage, and even sheds are built onto the lot that you are purchasing. Otherwise, the lender risks investing in a property that's not worth what they are loaning on. Plus, there could be huge legal fees to get something like this resolved.
  2.  Are the fences on the right property?
    If you have fenced in 5' of your neighbor's property, that could be a problem. Or what if the neighbor has a sprinkler line located 2' onto your property. If that line gets damaged, is it your responsibility to repair the system since it's on your property, or is it their responsibility because they own it?
  3.  Where are the easements?
    The land survey drawing will graphically show the location of the easements that are on record and referenced in the title commitment. The lender and title company want to make sure there are no easements running through the middle of the house or through any of the other improvements on the lot that could be a potential risk to you or them in the future.

Everyone wants to make sure that their investments are sound. Having a boundary survey performed by a professional licensed land surveyor will show you the conditions of the property including the improvements and easements, so that you know exactly what you are buying and where it's located.

Information provided should not be considered legal advice and all buyers, agents and title companies should consult their attorneys for legal advice.

Cardinal Surveying & Mapping, Inc PO Box 278, Cottleville, MO 63338

ph: 636.922.1001 * fx: 636.922.1002 * info@cardinalsurveying.com

The Joerling Group

314.808.1712