that was what you were doing. It guarantees that the deed to your property was searched from the present back to its US patent. The insurance is protection against human error because mistakes do happen. The process will have to be repeated with your current sale, but it’s helpful to have your prior paperwork handy. Surveys are sometimes required. Some states require a mortgage survey if the home buyer is using a mortgage loan to purchase a property. This guarantees the property is “as is” and should be without any encroachments. An example of an encroachment might be a neighbor whose garage overlaps the boundary of your property, or a fence you inadvertently erected on your neighbor’s land. All improvements also will be noted on this survey. Many states also require that the boundary of the land be surveyed. Make sure you check with a professional to find out exactly what your specific laws require. Some states demand disclosure statements. It isn’t uncommon for states to mandate that a seller provide potential buyers with certain disclosures about the property being sold. Natural hazards, pest control, and lead paint are just a few samples of common disclosures. An attorney or a qualified real estate agent, such as myself, can help you determine specifically what is needed. A pre-inspection report is recommended. Usually, sellers aren’t required to have a pre-inspection performed, but it’s a good idea. A mortgage lender will probably require certain inspections before offering the buyer money to purchase your property. If some part of your home doesn’t pass inspection, it could delay or even doom your sale. If you pony up the cash to get a pre- inspection done, you’ll have every opportunity to make repairs
77
Powered by FlippingBook