Are you in the process of buying or selling a home? There are a lot of things, both big and small, that you need to keep in mind when you are dealing with real estate. But one thing that simply cannot be overlooked is the land survey.
Whether you are the buyer or the seller, it is key that you remember to get a land survey in Texas. But that brings up a sensitive question: is the buyer or the seller supposed to pay for the land survey?
That question will vary based on where you live, but one thing is for sure: it is something that ought to be on your radar going into the transaction. With that in mind, here is a closer look at land surveys, why they are important and who pays for them.
Don’t skimp on the survey
You might be thinking to yourself, “Why do I even need to worry about the land survey?” After all, it is not like you’ll be operating a business, or that it really matters if your neighbor’s fence is a few feet off from where it ought to be.
However, your homeowners and title insurance can often be dependent on a land survey, so if you want to know exactly what you are dealing with, and avoid future financial and legal trouble, it’s best to invest in a survey. And if you’re the buyer, you’ll have a survey on hand should any property boundary disputes with your neighbors arise further down the road.
It’s understandable that you’d be trying to save costs, especially during a pricy real estate transaction, but the survey is one area where you really should not skimp.
Determining who pays
So, how do you know who pays for a land survey? The answer all depends on which state you call home.
In these states, the seller pays for the survey: Alaska, Illinois, Kansas, Missouri and Nebraska.
In the following states, it is the buyer who takes on the cost of a land survey: Arizona, California, Connecticut, Delaware, Georgia, Indiana, Kentucky, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Utah, Vermont and West Virginia. This also applies in Washington, D.C.
And in these states, who pays for the survey is negotiable: Alabama, Arkansas, Colorado, Florida, Hawaii, Idaho, Iowa, Louisiana, Michigan, Minnesota, Mississippi, Montana, Nevada, New York, Tennessee, Texas, Virginia, Washington, Wisconsin and Wyoming.
If you live in a state where it is negotiable, that means that both parties can decide on a fair arrangement. Don’t let an aggressive seller or buyer talk you into an arrangement that does not work for you.
Call today for more information
Do you still have questions about land surveys in Texas? That’s okay—this can be a complicated topic! Fortunately, you are free to contact D.G. Smyth & Company anytime. Our surveyors are fully licensed and experienced, and we will be happy to answer your questions and help you through this important process.