Title Insurance Survey?

Asked by Newyorker123, Canarsie, Brooklyn, NY Fri Aug 10, 2012

My attorney order title insurance for my new property & today they called me to ask should I also get Title Insurance Survey? I am totally unaware of what this term "Title Insurance Survey" means. I thought just doing the title search will be good enough. However, my attorney did mention that Title Insurance Survey is optional and there are people who do not go for it. They also told me that if I decide to go for Title Insurance Survey it will cost me extra $750. I really do not care about the money but I just want to make sure that any extra money spend, is money wisely spent & not unnecessary. Any kind feedback is greatly appreciated.


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Anna M Brocco, Agent, Williston Park, NY
Sat Aug 11, 2012
If you are referring to a property survey--why not protect yourself and order a new one....your attorney can best advise, therefore consider a consultation and ask for any necessary clarifications...
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, ,
Sat Aug 11, 2012
Good morning Newyorker123,

I'm not sure what you mean by "Title Insurance Survey." So I will make a guess as to what it may be, which could be one of two things.

1. Market Value Rider: this is a rider to your title insurance policy. Some Attorneys recommend strongly that you purchase this additional Rider to your Title insurane; others don't. The best person to discuss this with is your Attorney. Your Attorney can explain why you need it and how much the cost is for the additional coverage.

2. Survey: because you cite $750 as the cost, then most likely your Attorney is discussing a Survey. A Survey is prepared by a Licensed Surveyor and depicts the property lines and structures within the property boundaries. Think of it as a "blueprint" of sorts of the property boundaries and structures.

IF you are obtaining mortgage financing to purchase the property then your Lender requires a Survey that is clear, legible and can be endorsed to your Lender. I have closed many transactions over the years where the Survey was quite old but was still acceptable. Did your Attorney request a copy of the Survey from the Seller of the home? If your Seller has a Survey that meets the Lender requirements I outlined above, then you've just saved yourself the cost of a new Survey. Your Title company will take the existing Survey and perform an inspection of the property to verify there are no additions to the property since that Survey (such as a shed, extension to the back porch, etc.) that may not be legally constructed (without appropriate building permits from the municipality).

Your Title company may also attempt to locate a Survey in Public Records although this is less likely to be available as Surveys don't often get recorded the way Deeds and Mortgages are recorded.

I find it amazing that your Attorney hasn't explained in more detail this important component of your Home Purchase process. Surveys are required and standard; when spending extra money on a Survey your Attorney owes you a detailed explanation.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
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Mitchell Fel…, Agent, Brooklyn, NY
Fri Aug 10, 2012
Dear Newyorker123:

I have not heard of the term Title Insurance Survey, but I think you are referring to doing a survey of the property. Often times these days buyers may not do a survey because banks do not always require it and they want to save the money. When you own a home you also own a legal bundle of rights. When you and/or your mortgage banker buys title insurance, the title insurance protects those rights and your right to use the property as your own.

Often times a mortgage banker or buyer attorney or buyer him or herself will want to do a physical survey of the property to make sure that a) the property is what it is supposed to be phsyically and b) to make sure there are no encumbrances on the property. This can be very important because if the property is not what it is supposed to be physically or if there are encumbrances, it can effect the value of the property and is not covered with regular title insurance.

Hence, by doing a survey, you can make sure there are no issues before you actually own the property. I have witnessed buyer's attorneys request a survey from the current homeowner/seller. If the seller has one and if it is not too old it may suffice as long as there have been no physical alterations done to the property since said survey was done.

If you are a gambler you may not need it. If you want to make sure you do not have headaches later, just do it now. It is sometimes a matter of personal preference. What did your attorney advise you?

If I can be of further assistance, please let me know. Good luck!

Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
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