Housing market is too far gone.

May 8, 2001
39,666
Colorado
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.
 

monolith

Hey, Herbie! How's life? Taking forever.
OT Supporter
May 9, 2004
44,584
Southern California
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.
Thanks. As far as I can tell there is nothing weird/abnormal about the home or land, everything is pretty straightforward.
 

monolith

Hey, Herbie! How's life? Taking forever.
OT Supporter
May 9, 2004
44,584
Southern California
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.
Doing this now.
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

Awesome. Thanks. Already emailed and planning the survey now.
 

Sp33dealer

Bully Troll Crew
Aug 3, 2005
54,516
DFW
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.
piece of mind lol
 

Weapon X

Well-Known Member
Sep 5, 2001
9,456
one of the folks in our association sent out some listings of similar 3-bedroom corner units, and that's what they were selling for.

mine is likely considerably more since I have the direct (and best) lake view, and several "upgrades" including tile in 2nd floor, pre-wired cameras and hometheater, upgraded lighting, etc.

So yeah, it may be a lot more, but damn... I still cannot compute how people can afford shit in this market
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.
 

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.
 
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CopenKagan

Well-Known Member
Feb 27, 2003
91,242
Salt Lake City, Utah
Do people suggest getting a survey done before closing? Currently talking to a surveyor and he's quoting the following:

Field work = $495
Certified Drafted Plat = $240

How useful is getting this done?
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.
 
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monolith

Hey, Herbie! How's life? Taking forever.
OT Supporter
May 9, 2004
44,584
Southern California
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.
 

saabguy

Saab-free since 2013. Mortgage guru
OT Supporter
Aug 11, 2003
26,094
Loserville. Population: 1
To clarify, there are renovation loans.

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.
 
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Menger

OT Supporter
Nov 23, 2011
23,781
To clarify, there are renovation loans.

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.
How much time do you have to get the work done?
 

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