My wife and I our buying a new house and being that it is a forcloser our agent said that we might have to pay to have it surveyed. I was wondering if there is anyone here thats does that or any one yall recomend from the dallas rockwall or hunt co. area.
-
-
Check the date of the last survey. I think surveys are still good out to 3 years
If not use the old survey company from before. They can do what is called an update and it should be cheaper. -
Most lenders will require a new surveyComment
-
Thats what my agent said and from what I have seen they start around $450Originally posted by lameduck View Post
which is crazy its only .25 of an acre.Comment
-
The update is considered a new survey. The company that did the survey before most of the time will go look to see if there are any improvements and use the old survey information to generate an updated survey. The company i use to work for use to do updates for 150.Comment
-
Most foreclosures do not have a copy of the existing available.
If they did have it there is a 99% chance it cannot be used.
In order for the the title company to use to old survey the seller has to certify that there are no changes. The title company will not issue the lender title policy endorsement required unless that form is signed. Since this is a foreclosure there is 0% chance the seller will sign those documents.
If you could find a copy there is a small chance the same survey company might cut you a deal. But they have to go back and and remeasure so that is unlikely also.
Now the next thing....
When you applied for the loan your lender was required to give you a GFE. On the GFE there should have been a survey disclosed. It will most likely show in box 5. Also on the service provider list they are required to list a servicer provider for a survey. If you use their service provider the cost can only exceed the disclosed cost it if meets a narrow set of circumstances.
If they did not disclosed a survey the lender might try to add that survey. With the new rules there has to be a valid reason or change to be able to add the survey. since this is a foreclosure the lender should have know a survey was required. When they should have know and did not include the fee on the originail GFE it might not be able to be added. In this case the lender might have to pay for some of the cost.
It is complicated now......
PM me if you want to chat
Stan Rodgers NMLS#45163Last edited by Stan R; 01-16-2011, 12:24 PM.Comment
-
$450 is a decent amount to pay. .10acre to a few acres is going to be roughly the same price, you have to find corners and have an RPLS resolve the boundary then sign and seal.... the size of the tract has very little to do with it, under 10-15 acresComment
-
In the Houston Area
$450 is about normalComment
-
thast about the norm. on pricing, your lender shoudl be able to reccomend a fewComment
Comment