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Why you shouldn’t skimp on a property survey

Did you know that the space owned by the municipality for the road often extends into your lawn area, which can mean that your prize peonies, a treasured tree, or even a deck is not on your property?

This is why one of the first things a lawyer will ask new homebuyer clients is whether there is a survey of the property available.

A survey is the only way to confirm that the house is actually on the property you are buying.

It can reveal important differences between the apparent “footprint” of a property and its true legal dimensions.

The legal dimensions of the property can control what the owner can build on it.

Occasionally, the owner’s lack of information about these constraints can lead to serious consequences, like having to tear down a new addition or deck.

A survey shows the precise shape and size of the lot and reveals whether buildings are, or are not, within the property boundaries. It can also determine if a neighbour’s buildings are actually on your property, or whether there are access rights across your lot that might prevent you from a proposed renovation or construction project, like building a pool in the backyard.

A survey is a great way to avoid future headaches when buying a house. Arranging for a survey when you first buy the property will give you reliable and clear information from the beginning, helping you prevent boundary problems in the first place.

You should also ask your lawyer to help you select a title insurance policy that covers boundary issues should they arise. Title insurance offers excellent protection against many of the legal risks that can accompany property transactions.

Find more information in The Real Simple Real Estate Guide available online at titleplus.ca.

                                                                                                                                                               – News Canada 

Posted: May 30, 2017

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