Where is the line? Know the property lines before hand.
Ready to Close Property Line Problem
This house comes with a 1/4 acre land and a one car garage, Really ? Lets hope so. Well, maybe not. A buyer found out the hard way.Don't let this happen to you , epecially if you live in the north east part of the country. Here in the northeast not all properties are perfect square lots. Lines can get blurry. What was once one large family lot one hundred years ago is now a subdivided nighmare. Don't laugh. It can happen to you.
So a first time home buyer is out looking for property. Can't really afford a ton. Hoping to find a house for the same price as a condo, which are usually more affordable , but not truly your own to do whatever you please. A cute home comes on the market for the same price as a condo. Buyer looks at it. Likes it. Can see it needs work , but is excited to find a single family home. It's advertised as 2 car parking and one spot is a garage. The garage is touching the neighbors garage. FIRST RED FLAG
Buyer does offer, puts in contingencies for clear and clean title. Verbally request note from neighbor stating that the garage is in fact on property.Mistake.1 -Asking verbally. Home Inspection . Issues working out some what. Purchase and Sales time. Buyer can't afford her own attorney to preview or advise. Agent advises that it is real important to have your own laywer as the bank attorney really only cares about the banks money.Mistake 2 - . Doesn't take it serious.
Getting ready to close. Buyer jumping through hoops with out of state mortgage co. Mistake3. Bank attorney waits until 1 week before close to do title search and send out surveyor..Mistake 4.
Plot Plan comes back last minute- Big problem. Can't close. Turns out that the plan did not match up with several others done over the last 100 years.. The garage and portion of the house were on the neighbors land. Now everything is on hold. Can't close.Don't let this happen to you.
Save your pennies. You really ,really need to hire a real estate attorney when you purchase. It is not a thing to skimp on. Your attorney is important in more ways than you know. They are key needed people to help you in your purchase.
You cannot take the sellers word or the listing agents word on where the lot lines are or where they think they are.Without a true survey , you do not know for sure. By hiring a real estate attorney when you purchase, it helps to save time , money , heartache, stress and loss of home.