stevezissou
OT Supporter
And your title company doesn't require it? What are they using to issue title policy?
Housing market is too far gone.
- Thread starter randomous
- Start date
- Mar 21, 2004
- 14,128
Greater Victoria builders say they can’t find workers to build new homes, because they can’t find homes for the workers
The ‘vicious circle’ has deepened a persistent worker shortage during a period of record demand. Part seven of our labour series, Pay Check
www.capitaldaily.ca
They generally aren't required. There also may already be one recorded with the county clerk(which may be why they arent requiring it). Unless you're dealing with odd property lines, fences etc that may be on the wrong sides of those lines. I wouldn't worry too much about it. Especially if the lender isn't.
But if you have the extra $ to shell out. Why not? It's a good piece of mind at the end of the day.
stevezissou
OT Supporter
Thanks. As far as I can tell there is nothing weird/abnormal about the home or land, everything is pretty straightforward.
Bitter Moose
OT Supporter
Go to the county deed website and see if there's a survey attached from a previous transaction. I'd want a survey of anything I'm buying.
Any land dispute issues in the future won't be covered by your title insurance policy if you don't have a survey dated within a year from settlement
Doing this now.
Awesome. Thanks. Already emailed and planning the survey now.
DaninTexas
Well-Known Member
Closed yesterday. Glad that nightmare is over. Now to start another one.
Can't move in till June when the kids are done with school.
Just so glad we dont have to play the buy a house game again.
Can't move in till June when the kids are done with school.
Just so glad we dont have to play the buy a house game again.
Sp33dealer
Bully Troll Crew
Weapon X
Well-Known Member
- Sep 5, 2001
- 9,456
Now wait just a goddamn minute. Tile on the second floor is considered an upgrade? What the fuck is normal? Plywood? The only flooring I would ever consider an upgrade is hardwood.
Pete Venkman
Well-Known Member
Bummed...no great options this week in the area we want, other than an awesome house $200k above my max price at these rates.
Menger
OT Supporter
- Nov 23, 2011
- 23,781
Do I want an old cheaper house in a walkable college town neighborhood, a big house that needs TLC next to a national park, or none of the above? This is too much commitment for me.
CopenKagan
Well-Known Member
Do it. I can't tell you how many clients I've had that hired me after the fact and there was something seriously wrong.
Also, $750 is NOTHING for that work. I don't know how companies stay in business with that pricing model. I'd be 2.5-3 times that easily.
Appraisal came in $35k under our offer ($20k under their list), we have a $10k appraisal gap which I'm hoping is enough. We sent over the addendum yesterday with the change in sale price. Our agent has been talking to the listing agent and he said he sent it over last night and is going to call in an hour to poke them and see what's what. Both our agent and the listing agent have said the wife of the couple selling the home is a massive pain in the ass and has been difficult every step of the way.
Crossing our fingers this all goes well.
Crossing our fingers this all goes well.
To clarify, there are renovation loans.Ok
See a house for $250k. Get contractor quotes for $50k of work. “Acquisition cost” is $300k. Put 5% down on $300k cost and close. $50k is held in escrow after closing. Contractor does work, submits invoices, inspections are done to verify work is complete. Contractor gets $50k payment from escrow.
Menger
OT Supporter
- Nov 23, 2011
- 23,781
I believe 12 months. And I think you can even finance in up to 6 months of mortgage payments if the home will not be habitable for that period of time while renovations are being done.
