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Message
New home/survey issues
Posted on 11/18/14 at 7:42 pm
Posted on 11/18/14 at 7:42 pm
Reading all the home purchasing stuff has me curious if anyone has insight to an issue like this---
Looking to purchase (in nola) a new build on a formerly empty lot. The neighboring lot is vacant, minus an old chain link fence that runs the what used to be the 3 outside edges of the backyard.
Got to working on an offer and on the final walk before submitting saw that the contractor on my potential house poured the driveway a few inches past the sellers survey line, and the neighbors dilapidated fence is actually several inches into what would be my potential back yard. Thin lots so width is at a premium.
What's the best course from here? Seller is willing to shave back the driveway to no longer cross the line(would leave it SNUG but usable), and tear down the fence from the neighboring lot while the realtors (both mine and the sellers) are asking to leave any mention out of the purchase agreement so the bank doesn't find out.
edit: willing to add an addendum reading "this addendum shall be considered a separate agreement from the purchasing agreement... all the issues.... would you roll with it?
Looking to purchase (in nola) a new build on a formerly empty lot. The neighboring lot is vacant, minus an old chain link fence that runs the what used to be the 3 outside edges of the backyard.
Got to working on an offer and on the final walk before submitting saw that the contractor on my potential house poured the driveway a few inches past the sellers survey line, and the neighbors dilapidated fence is actually several inches into what would be my potential back yard. Thin lots so width is at a premium.
What's the best course from here? Seller is willing to shave back the driveway to no longer cross the line(would leave it SNUG but usable), and tear down the fence from the neighboring lot while the realtors (both mine and the sellers) are asking to leave any mention out of the purchase agreement so the bank doesn't find out.
edit: willing to add an addendum reading "this addendum shall be considered a separate agreement from the purchasing agreement... all the issues.... would you roll with it?
This post was edited on 11/19/14 at 8:59 am
3
Posted on 11/18/14 at 8:33 pm to NoSaint
Transaction in Nola will require a survey. Get the survey and see exactly where the stuff is.
Posted on 11/18/14 at 9:22 pm to eng08
Would you submit the offer and sort out later, or what's standard procedure? Seller acknowledges the issues in advance but they aren't currently fixed.
Posted on 11/18/14 at 10:21 pm to NoSaint
Put a clause in the offer stating "The offer is contingent upon the resolution of the obstruction blah blah blah." or something like that. Get it in writing.
Posted on 11/19/14 at 4:05 am to NoSaint
is there potential code violations to shave driveway down or is it simply conveinence factor?
Posted on 11/19/14 at 6:14 am to ItNeverRains
That's an issue I'm trying to check. The agent has been underwhelming on the issue with a lot of "i think it's fine" and "we can always figure it out later"
Posted on 11/19/14 at 7:15 am to NoSaint
The agents have had you sign their disclosure saying they are not liable for survey and boundary issues. They want to close and get paid.
Posted on 11/19/14 at 7:30 am to ItNeverRains
quote:
They want to close and get paid.
yup - which is why im floating it out there for secondary feedback from you fine folks of the MB that dont profit off me doing something dumb.
i appreciate the feedback!
Posted on 11/19/14 at 7:47 am to NoSaint
No problem. As a realtor I hate this kind of shite.
Posted on 11/19/14 at 8:08 am to ItNeverRains
in your experience, is it reasonable practice or normal in the industry to keep issues like this out of the purchase agreement and put them in a separate addendum? They are concerned about the bank/underwriter finding out and it becoming a bigger issue.
Posted on 11/19/14 at 8:28 am to NoSaint
quote:
in your experience, is it reasonable practice or normal in the industry to keep issues like this out of the purchase agreement and put them in a separate addendum? They are concerned about the bank/underwriter finding out and it becoming a bigger issue.
You mean they're worried about the lending institution underwriting a loan with adverse facts associated with the property? See where I'm going with this?
This is where emotion comes in because you obviously still want the property and everyone involved is telling you not to sweat it. They may be 100% correct. It may very well never be an issue.
At the very least, tell your agent you want the builder to pay for an extended title policy, not basic policy. I believe this will cover you, but as always consult with a real estate attorney, not some random realtor on a forum.
This post was edited on 11/19/14 at 8:30 am
Posted on 11/19/14 at 8:31 am to NoSaint
quote:
What's the best course from here? Seller is willing to shave back the driveway to no longer cross the line(would leave it SNUG but usable), and tear down the fence from the neighboring lot while the realtors (both mine and the sellers) are asking to leave any mention out of the purchase agreement so the bank doesn't find out. would you roll with it?
The Agents are being lazy and greedy. If you don't want this issue to pop up later in life, tie its resolution into the purchase agreement. Even if it is an addendum to the purchase agreement it is considered part of it and legally binding. If the seller truly has the desire to rectify the problem they shouldn't have a problem sorting it out before closing. You should berate your agent for looking out for his/her own interests instead of yours.
Posted on 11/19/14 at 8:38 am to BigAppleTiger
I would probably notify both agents managing brokers after I got an email/paper trail from both agents encouraging me to move forward with knowledge of issue 
Posted on 11/19/14 at 8:50 am to ItNeverRains
quote:
At the very least, tell your agent you want the builder to pay for an extended title policy, not basic policy
some stuff like this was bouncing around my head. but not having dealt with it before - its nice to hear someone suggest it independently as it makes me feel a bit more confident in pushing that angle.
quote:
but as always consult with a real estate attorney, not some random realtor on a forum.
certainly - but its always nice to get a few steering opinions, and catch extra ideas in the mean time. some stuff i might be able to research in advance, or alongside more formal avenues. Thanks again!
Posted on 11/19/14 at 9:03 am to BigAppleTiger
quote:
Even if it is an addendum to the purchase agreement it is considered part of it and legally binding
i just edited the OP a little as they have said an addendum would be their much preferred course of action. the verbiage included (this is considered a separate agreement from any purchase agreement) seems to be geared towards keeping the document out of the banks hands, but still putting the arrangement on paper.
some more info acquired: the lot next door has been vacant for some time (looks pre katrina so the fence is likely 10+ years old crossing the boundary) and is apparently held by several parties (passed down in an inheritance). it seems like if in the legal processes they have been through they surveyed and documented the fence, they may have claim to have established boundary - right?
This post was edited on 11/19/14 at 9:10 am
Posted on 11/19/14 at 9:42 am to NoSaint
Here is the deal. The current builder/seller screwed up with regards to the driveway. They need to fix it. Why don't they just fix it today and be done with it? If you make it part of the purchase agreement, and they do their work quickly, is the bank goign to care? The bank just wants to make sure everything is the way it should be.
The builder/seller is going to have to deal with this no matter who buys the house.
As far as the fence going onto your property, if you have a correct survey, couldn't you just take down the encroaching part? Or, have you considered going and making an offer to buy their lot?
The builder/seller is going to have to deal with this no matter who buys the house.
As far as the fence going onto your property, if you have a correct survey, couldn't you just take down the encroaching part? Or, have you considered going and making an offer to buy their lot?
Posted on 11/19/14 at 10:18 am to LSUFanHouston
quote:
The builder/seller is going to have to deal with this no matter who buys the house.
You'd be surprised
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