If you plan to buy property, you really should get a survey. A mortgage report is not sufficient.
If you buy property without a survey, you run the risk that the boundaries of the property are not where you thought. Your house may encroach onto your neighbor’s or theirs may encroach onto yours, or part of what you thought was your yard may be someone else’s. A survey would reveal problems like these.
A mortgage report is not good enough. They specifically state that you cannot rely upon them to determine property boundaries and are certified only to your lender, not to you.
You can fix the second problem by having it certified to you also, but the only way to fix the main problem is to get a staked boundary survey.
Your lender will let you close on a mortgage report because it is protected, but you will not be.
You need a true survey to protect yourself. It is well worth the cost.
Cunningham Dalman, PC publishes this web site and its component parts to inform users about our firm, our attorneys and general new developments in the law. The web site and blogs are not intended as legal advice on any matter. There are many factors that may affect your situation. You should not act or refrain from acting because of information found here without first seeking appropriate legal or other professional advice from someone who is familiar with your particular circumstances.
In the operation of this web site and our blogs, we do not intend to create an attorney-client relationship with you and no such relationship shall be created by your use of this web site. Such a relationship can only be established to the extent an attorney at Cunningham Dalman, PC expressly agrees to undertake the relationship. Please do not communicate to us any information you regard as confidential unless and until we have established a formal attorney-client relationship with you. Any information you send to us before we establish an attorney client relationship may not be privileged or confidential. Information you send to us over the Internet may not be secure.