However, if the property is mortgaged, the lender will want title insurance. Almost all title insurers will ask for a survey to verify that the property and any structures are free from encumbrance or encroachments. The title company will pass the cost of a survey on to the mortgager. Be sure that you are not being charged the price of a new survey if an old one is being "passed" forward. In either case, be sure to get the survey certified in your name and keep a copy of the survey plat for future reference.
YES, Surveys are required in New York State prior to closing.
In the best of all worlds, your Attorney can request of the Seller's Attorney the Survey the Seller has. If that Survey is legible and can be endorsed to your Lender, many Lenders will accept that Survey. If the Seller purchased the home in the past 10 years or so, chances are very good they have a Survey. (They may not know where it is, but a search through their closing documents when they purchased the home will turn it up)
OR your Attorney's title company may be able to locate a Survey in public records at the County Clerk's office.
If you are successful in either of these two methods, then your title company will charge you a nominal fee (usually around $150) for a Survey Inspection.
If you need a new Survey for any reason, then your Attorney will order one and this must be completed and "read in" to the title report before you can close on your home purchase.
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker â€“ NYS Dept. of Financial Services