Tuesday, September 15, 2009

Protect Your Investment


September 15, 2009----So you’ve found a home that is perfect. You’re ready to write an offer up on the home with your real estate agent. Some agents have different opinions on this, but it has come through my learning that you should always reserve the right to have a survey completed on the property when writing up the offer.

Now, ask yourself these questions:
1. Are you planning on building a fence?
2. Are you planning on making additions to the home sometime during your period of ownership?
3. Is there already a fence on the property?
4. Have the owners built anything on the property after they bought it (i.e. swimming pool, storage shed)?

If you can answer any of these with a definite yes or even a maybe, you want to get a survey. It is best to spend the $400.00 or so expense upfront so that if any issues arise with the property lines then you can still get out of the contract and move on to a different home. You don’t want to pay for the mistakes of a previous owner.

PLEASE, don’t assume that the owner at the time had a survey on the property prior to making their addition. After all, you don’t want your neighbors swimming in your in-ground pool whenever they like just because it’s 12 inches on their property.

Something to Note: Ask your agent to write in the contract for seller’s to provide a recent survey if one has been completed. Make sure that there have been no additions to the home and lot after this survey was completed.

Melissa Simms
RE/MAX Associates

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