Why You Need the Property Corners Marked When You Buy Land
If you’re buying land, I want to talk to you about the importance of getting your property corners marked by a licensed surveyor. Let’s say you’re writing an offer. Make sure you have your agent, or when representing yourself, that you request that the seller hire a licensed surveyor to mark the corner.
Avoiding Costs
Why is this important? Having the seller mark the property corners will eliminate having to pay for a record of survey down the line to mark a corner that you previously thought was the corner, but in reality, is not. Let’s say we want to construct a building on our property in the future. We have to establish our property lines with at least two corners, so we can pull a setback for the building, and thus show the city or county where that setback is at. When hiring a surveyor to look into that and mark the corners, if there was never a record of survey completed on that one corner, that can cost you anywhere from $6,000 or more. This cost depends on the amount of work that the surveyor must do to locate and pin that corner.
Due Diligence
This is important to complete during the due diligence process while writing the offer. During the inspection period, that’s what we call our timeframe for due diligence, the period to check into what this property has on it or check on potential issues. Make sure the lot is agreeable to purchase. Once the seller has that surveyor come out and mark those corners and confirm their location, you’ll know that you don’t have to complete that record of survey, or if you do, that you can potentially negotiate on the price point owner or have them complete the survey.
Boundary Disputes
We have had boundary dispute issues in the past. In one example, one property that we purchased was 15 feet into the neighbor’s yard, beyond the fences. That was a sticking point to work on because the neighbor wasn’t too excited about losing 15 feet of his perceived property. This is another big reason to complete a survey, and have it marked by a licensed surveyor, if a dispute arises, then we have a licensed surveyor involved that can back up that dispute.
I hope that helps. Make sure you get those corners marked.
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