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Reply to "Share your closing tips/tricks/horror stories"
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[quote=Anonymous][quote=Anonymous]The day before closing last year, the detailed survey revealed that our neighbors had unwittingly encroached on our land and fenced it in their yard. Just a few feet deep the length of the back yard, but where I live the encroachment represented $5,000 of land value. So DH called the closing attorney and said we would not sign unless this was rectified. The attorney spoke with the seller, the seller told the neighbor on the morning of the closing that the house would not sell if he did not move the fence, and the kindly neighbor moved the fence that very day! We closed on time and have remained on good terms with the neighbors. Part of it is that this seller was not well liked by the neighborhood and the neighbors probably made a special effort to make the sale happen![/quote] This is a good example of why it is a really good idea to get your own survey done. The title company will tell you it is optional, and it does cost more. Mistakes in surveys are not covered by title insurance, and the surveyor him or herself is only liable to the person for whom they performed the survey. So, if you rely upon the previous owner's survey, and it is incorrect (e.g., you find out the garage is built on someone else's land) then you are generally out of luck. [/quote]
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