Property Survey Expire? How Long House Survey Lasts?

When you buy a house, the seller should provide an existing property survey or new property survey. Sometimes the existing survey would be really old like 10-year or 20-year old. 

In this case, is it OK?

Refer to the article, https://www.homeadvisor.com/cost/architects-and-engineers/hire-a-land-surveyor/.
"How Long Does a Property Survey Last?
How long a land survey lasts is a question of how long the professional's liability lasts. That is how long the professional will defend the document if it's challenged. The length of time varies among states, but typically lasts 5 to 10 years from the time of completion."

Now, let's get into the real situation.

The answer is at least in Texas that the survey has no expiration date. The survey is accepted if ti
tle/lender says its OK. Typically the survey is usable as long as it is legible and no changes to the property have been made (e.g. a pool added, addition to the house, etc). There’s no real time limit or expiration date for a survey. 

The mortgage lender requires the title company insure the survey on lender’s title policy, as long as they accept the current one to insure us the lender is fine to use it. In other words, the decision maker is the title company. In most cases, the seller or seller's agent decide the title company, that means the seller's old survey is easy to be justified by themselves. As a buyer, For this reason, you need to be alert in that the seller can make the old survey get accepted.  

It's interesting.

Thanks,
JF


댓글

이 블로그의 인기 게시물

미국 포닥, 한국으로 돌아가는 이유? (Why do postdoc go back to Korea?)

외국인 (한국인) 미국 집 구입. 영주권, 시민권 필요없다.

미국 포닥 - 비지팅 포닥 VS 풀펀딩 포닥 (Visiting Scholar VS Postdoctoral Fellow)