We've just gotten two contract to do two ALTA surveys. They want us to start right away, but they can't tell us what the Table A items will be. We want to make some assumptions and start the field work.
Does anyone have any suggestions about what one might assume for Table A.
We will make these assumptions, send to them for approval and if they need something more later they have agreed that it will be an extra.
I have had similar situations. I usually mark the Table A items that are normally part of the state's minimum standards, and usually that is all they need.
I have found that many times the borrower is told they need an ALTA survey, and they have no idea what they need, only that it is a requirement for the closing. If you can select the items, it makes you look good to your client, and you might night have to do a lot of extra stuff that is not really necessary.
I have also had some paralegals mark every single item on a Table A and then question why the proposed fee was so high. After I explained the efforts involved in some of the items, many of them were removed, and we were back down to the normal items mentioned above.
Ask the client who the lending institution is. Then look up your old ALTA surveys and see if you have one with that lending institution listed in the certification.
Chances are the Table A requirements will be similar.
Incidently, does anyone else find it particular that in the requirements, it is still listed as an ALTA/ACSM land title survey, even though ACSM is now defunct?
Shouldn't it be an ALTA/NSPS land title survey?
The standards were developed by ALTA/ACSM so that's still what it is. I suspect that will change next go 'round...
Unless I was dead in the water I would not send the crew. No table A probably means no contract. That translates into no insurance and maybe no money. Table A drives my approach yo the project so my bet is the savings would be minimal...
I agree, do no field work until you have a signed agreement coupled with authorization to be on the property.
You can get a "word" document of the ALTA/ACSM standards that include Table A. Check the items that you think they want/need and email it to them for approval. I send the whole standards document so that they have something to read while you are doing field work and it does a pretty good job of explaining how technical (justification) the survey is. If your state law requires a record of survey as a result of the survey (all mine do) make sure that you include that line item at the end of Table A.
The permission to be on the property is very important where I work and I request that the real estate professional makes a telephone call in advance of my visit to explain the purpose of my visit.
I normally specify 1, 2, 3, 4, 8, 9, 11(b), and 21, with a fee. If they later want more they get to pay for it. I've never had a problem with that.
2-4, 6, 7, 11, 13
> We've just gotten two contract to do two ALTA surveys. They want us to start right away, but they can't tell us what the Table A items will be. We want to make some assumptions and start the field work.
>
> Does anyone have any suggestions about what one might assume for Table A.
>
> We will make these assumptions, send to them for approval and if they need something more later they have agreed that it will be an extra.
Table A items are optional and certain portions may or may not have to be included. It would depend on the requirements of your particular state. The main body of the Standards spell out exactly what entails an ALTA/ACSM Land Title Survey. It may be the case that your client doesn't want any Table A items included and all that he needs are met by the requirements per the pages before getting to the Table A page. Your client should be asked about the items in Table A, but he/she may deem them unecessary. I have in the past, when I was in business or employed by a firm, performed a lot of ALTA's that no Table A items were to be included. Also, a lot of people think they need an ALTA survey when all they need is a topo. They think because they've heard the word ALTA, that's what a topo survey is.
"No table A probably means no contract. "
Absolutely!!
Keep in mind that these are "MINIMUM STANDARDS". Table A is designed, not as the ultimate checklist, but as a list of common EXTRA items above and beyond those found in the absolute minimums.
A Land Title Survey can be prepared without using any of the Table A items.
The client can ask request that the field survey be performed by a crew wearing nothing but pink underwear from Victoria's Secret while chanting Gregorian Prayers and the plat be drafted using ink made from Yak's milk.
It's a negotiation. [Personally, the pink underwear was a bit over the top. Powder blue is more my color.]
Bottom line, COMMUNICATE!
Educate your clients.
This is NOT all about us!
