"Hello, my name is Harold Ballard. below are some common concerns that many people have related to land surveying."
IF A LOAN COMPANY IS INVOLVED:
Through the services of a Title Company, a loan company may insist that the property be verified as to its value, existence, and that any encumbrances be revealed before making a loan determination. Part of this process is to have a surveyor report regarding the alleged title and real property values, and how it relates to the ground.
Often, a survey has little perceived immediate meaning for consumers when it is quite apparent to them what they are buying; nevertheless, the consumer is compelled to comply if a loan is to be granted.
Quite understandably, the loaner wishes to be assured of minimal monetary risk. Consequently, the consumer is obligated to: purchase homeowners insurance, title insurance, pay taxes, and buy a survey that was to aid in the writing of the title insurance policy.
All of this, does ultimately, benefit the consumer, but protects the loaner. Paradoxically, the survey, although latent, may have more benefit to the purchaser than title insurance. Title Insurance is payable to the loaner, not the buyer. If you want real-property protection, then one should investigate a home-buyers insurance policy.
Harold M. Ballard ® www.wisetxsurveying.com
IF YOU’R IN THE MARKET FOR A CONSTRUCTION LOAN:
The significance of a survey, as it provides a benefit to the consumer, jumps dramatically when considering, adding on, or new construction.
Construction loans are more restrictive and if you cannot get it turned into a low-interest mortgage loan at the end of the improvements you could wind up in a bad situation, money-wise.
Be sure to tell the surveyor about your intentions, and present them with a current lawyer’s title report. While surveyors do posses the skills to retrieve information at the court house, they are not the experts. Additionally, it is the surveyor’s professional credo to report the facts found on the ground as they relate to title—not to form opinions as to the condition of title.
IF YOU SHOULD HAVE A BOUNDARY DISPUTE WITH YOUR NEIGHBOR:
Hopefully, it is a nonviolent state of debate, but in either case you should consider the services of an attorney. If you should call a surveyor first, tell them that it is a boundary dispute as this will give due notice that a possible hostile situation could exist. Moreover, a boundary dispute is sometimes the result of some vague blunder in the past and may require an unusual amount of field and office research to uncover fading evidence. Keep in mind that a surveyor cannot be your personal advocate and build a case for you—a surveyors only concern is to bear facts, whether it is your favor, or not.
Harold M. Ballard 6329 is Licensed by the Texas Board of Professional Land Surveying.
Firm License No. 10194286
Contact me at:
P.O. Box 485, Paradise, Tx 76073