Cost associated with US House Purchase?
#16
Re: Cost associated with US House Purchase?
... until after one closes and then discovers that the pins were actually messed with and moved; or, the well isn't, infact, actually on the property (therefore is someone else's well on their land and they could cap it off, need to re-drill one on your dime, or down the road, lenders can decide not lend on property without a legal water source for the property). If, found out during the transaction you could address such issues with the owner prior to closing (besides, when you sell and your buyer finds these sort of things, then you have to deal with it with them, probably correct them on your dime).
Everyone takes their own risk-reward decisions and under the same circumstances I would take the same decision again. Others might take a different decision.
Last edited by Pulaski; Aug 25th 2015 at 4:43 pm.
#17
Re: Cost associated with US House Purchase?
... until after one closes and then discovers that the pins were actually messed with and moved; or, the well isn't, infact, actually on the property (therefore is someone else's well on their land and they could cap it off, need to re-drill one on your dime, or down the road, lenders can decide not lend on property without a legal water source for the property). If, found out during the transaction you could address such issues with the owner prior to closing (besides, when you sell and your buyer finds these sort of things, then you have to deal with it with them, probably correct them on your dime).
#18
Re: Cost associated with US House Purchase?
Agreed. The only experience I have is with land that while semi-rural has clearly defined borders, visible pins, and a well close to the house that it is supplying.
Everyone takes their own risk-reward decisions and under the same circumstances I would take the same decision again. Others might take a different decision.
Everyone takes their own risk-reward decisions and under the same circumstances I would take the same decision again. Others might take a different decision.
Not necessarily, depends on the policy and company. Its important to review the exceptions to the policy and exactly know what is and isn't covered/insured and under what circumstances. In essence, title insurance is first and foremost insuring the legal description (ie paper claim), but may/may not insure the physical aspect based upon the legal description. Boundary disputes aren't automatically a title insurance matter and claim .... it is however, a title objection because it isn't what the owner is truly representing and warranting by means of the deed (and what type was used too). That is why its important to do the diligence and resolve matters prior to closing before they potentially become your responsibility!
#19
Re: Cost associated with US House Purchase?
You can also pay for a "survey", which means identifying where the edges of the land you are buying are, and if anyone has encencroached on them. In town it might be critical, out of town on unfenced semi-rural lots it probably isn't worth paying for. Either way, there should be iron re-bar "pins" in the ground at the corners of the property. They may stick up 3-4 inches and have bright pink ribbon tied to them (out of town), or be hammered down flush with the ground (in town).
#20
Re: Cost associated with US House Purchase?
This CT surveyor refers to iron pins and pipes among other possible survey markers. And this one refers only to iron pins among "other appropriate markers".
I have a sneaking suspicion if you go digging in the woods in your yard, you may find iron pins very close to any wooden survey markers.
Last edited by Pulaski; Aug 25th 2015 at 6:37 pm.
#21
Re: Cost associated with US House Purchase?
They use wooden ones here to mark the location of the iron ones in the ground.
This CT surveyor refers to iron pins and pipes among other possible survey markers. And this one refers only to iron pins among "other appropriate markers".
I have a sneaking suspicion if you go digging in the woods in your yard, you may find iron pins very close to any wooden survey markers.
This CT surveyor refers to iron pins and pipes among other possible survey markers. And this one refers only to iron pins among "other appropriate markers".
I have a sneaking suspicion if you go digging in the woods in your yard, you may find iron pins very close to any wooden survey markers.
But we're puzzled because we were told one 'marker' of our property is an electricity pole--confirmed by a sketch we received in our move-in papers from our realtor & lawyer--and another is a hole etched in our boulder wall. As you say, perhaps the steel rods are located somewhere under both of these....
#22
Re: Cost associated with US House Purchase?
I think you must be right, Pulaski. I just mentioned the issue to the husband, and he reminded me we've seen one rebar (not on our property) banged flush into the ground with only the pink plastic ribbon showing underfoot.
But we're puzzled because we were told one 'marker' of our property is an electricity pole--confirmed by a sketch we received in our move-in papers from our realtor & lawyer--and another is a hole etched in our boulder wall. As you say, perhaps the steel rods are located somewhere under both of these....
But we're puzzled because we were told one 'marker' of our property is an electricity pole--confirmed by a sketch we received in our move-in papers from our realtor & lawyer--and another is a hole etched in our boulder wall. As you say, perhaps the steel rods are located somewhere under both of these....
It is also the case that older surveys used rocks or stone markers, so there may not be an iron pin if there is a substantial mark in your boulder wall. The Mason-Dixon line was marked with stones, and a few years ago the NC-SC state line was resurveyed. It had been marked with stone markers, and some were 50-100ft off. A gas station "in SC" near Charlotte was found to actually be in NC! ..... The owner was distraught and I am not sure the station survived as it existed primarily to sell cheap SC gas to people who came from NC.
Last edited by Pulaski; Aug 25th 2015 at 8:10 pm.
#23
Re: Cost associated with US House Purchase?
And our VFD fire trucks are very shiny indeed.
#30
Re: Cost associated with US House Purchase?
The local city to me assesses a stormwater tax, I believe based on the amount of impervious area on the property. I believe it is commonly assessed in NC municipalities.