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Now I need a survey?????

Established Contributor

Re: Now I need a survey?????

I'll give you one cautionary tale about the fence.  The law of adverse possession can apply here.  Let's say the fence encroaches on your property by 6 inches.  In the grand scheme of things no big deal.  You're happy with the fence and if it ever needs to be replaced, you can ask for it to be moved back.  However, let's say the fence is 6 feet on your property.  Let's say the fence is there for 30 years and you do nothing (similar to the shed).  The neighbors can file a petition and obtain ownership of that 6 feet very easily by proving you did nothing to ask them to move it.


So even if you don't obtain a new survey, having access to an old survey or knowing how to properly measure property can save you some potential grief.


On a side note, I'm actively looking at a lot where the next door house was built 5 feet over the property line.  The house is worth about $800K.  The lot is worth about 45K.  The house is an REO and I'm thinking I can get it very cheaply because of the encroachment.  Tough to move a 6500 sfoot house.


Plus I would just love to write a letter to BOA saying, "Move yo damn house offa my lot."  How often do you get to put the screws to a bank...


@justrock wrote:



Thanks everyone for your advice and information.  This is what I've found out on my own-- the bank doesn't want a survey, the LO said she would be good with an updated metes and bounds description.  My attorney says I need it for my own protection.  If I don't get a survey done there will be "exclusions" in my title insurance.   I can use an updated one if the previous owners had one done 8 years ago when they bought the house.  My real estate agent is checking with the seller's agent.


I work for a law firm so I asked around.  One attorney, who bought her first house last year, said she had one done and found that the neighbor's shed was on her property.  She bought the house from an elderly woman and thinks the shed owners knew she wouldn't complain so they took advantage.  She's asking them to move it onto their own land.  


The property I am buying is bounded by roadway on two sides, and fence on the other two sides.  I am happy for the fence because i have a dog, and even if it was someone else's fence on my property I wouldn't move it.  Still, I think I'm going to play it safe and have the survey done if I can't update it.  I wouldn't give it a second thought if it was $300 or $400 dollars, but SEVEN HUDRED!!!


There goes the new sofa.Smiley Sad





Message 11 of 13
Regular Contributor

Re: Now I need a survey?????

Message 12 of 13
Moderator Emeritus

Re: Now I need a survey?????

@ezdriver wrote:

Survey's are mandatory as no lender will close on a purchase without it. Also, that the current homeowner has one is irrelevant as your lender would not accept that survey anyway. It may or may not affect your title insurance as well. All the best with your home purchase.

Not in Colorado. Or at least in Conejos County.


We bought property there in October 2012 and no survey was required by the lender.


We had one done anyway for our own peace of mind.

Message 13 of 13
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