2 weeks ago I got a call from a loan officer asking for a quote on a piece of property about 15 miles from me in a neighboring county. It is rural property and the county does not have much information on it. So while looking at what was available and doing some sleuthing before I give a quote I discover a significant problem with the deed whereas the preamble calls for 6 acres but it describes 7.5.
Now there is a deed and plat for the errant 1.5 acres but the subject deed is in error and will need to be corrected. So I informed the loan officer of this as well as the price of the survey but hadn't heard back until I followed up yesterday & I was just informed that they are not going to order a survey and will require the borrower to get a title policy.
So they are ignoring the problem, and it is a significant problem that can be corrected but they don't want to and as a result that landowner is at serious risk here of building a house on someone else's property and I'm kinda wondering......well........should I make a call?
Just A. Surveyor, post: 454899, member: 12855 wrote: should I make a call?
Yes, call the sheriff immediately. It is your duty to protect the public and fix everyone's problems even though they don't care and are paying you nothing.
roger_LS, post: 454901, member: 11550 wrote: Yes, call the sheriff immediately. It is your duty to protect the public and fix everyone's problems even though they don't care and are paying you nothing.
Now you're just being a bit sarcastic for no reason at all.
The bank may not want a Survey, but the title company may still require one.
As much as you want to, sometimes you cant protect people from themselves. If the buyers were doing there due diligence to protect there interests, they would request a survey before buying. And if not, hopefully before they construct a house.
The title people should catch a deed that's been sold out of the parcel, if not it's totally on them. One of the few things title insurance will pay off on.
Title companies usually do not write policies on properties that have something wrong with the property description.
For a price, they will sell an exemption for a survey.
In the event of a problem, a survey will be necessary to hopefully clear that problem.
Every time I've seen a know problem getting overlooked by a Title company, the Title company had to look for a new underwriter and hope the impending lawsuit did not bankrupt them.
I think the potential consumer (lender) said they will be happy with insurance.
Perhaps both the Buyer and the Seller are aware of the issues, or don't care.
Hopefully the buyer will obtain an Owner's Policy, but those seem to be rare theses days.
Not much to do here.
I wonder if you should notify the guy by certified mail of the problem. They may have to disclose the problem to the potential buyer per their ethics standards. They may not do it, but you did leave a trail of notifying them, so it doesn't come back on you. Even by email might be strong enough.
Just A. Surveyor, post: 454902, member: 12855 wrote: Now you're just being a bit sarcastic for no reason at all.
The guy's a wolf. He loves to attack people.
Skeeter1996, post: 454929, member: 9224 wrote: The guy's a wolf. He loves to attack people.
I saw it as humor. I missed the attack implications.
However it was a terse summary 😉
Tom Adams, post: 454928, member: 7285 wrote: I wonder if you should notify the guy by certified mail of the problem. They may have to disclose the problem to the potential buyer per their ethics standards. They may not do it, but you did leave a trail of notifying them, so it doesn't come back on you. Even by email might be strong enough.
If you know who the buyer is, probably a good idea. If you do, Copy the owner too. You don't want accusations of "defamation of title" or some such.
If all you have is some acreage numbers, say so.
Just A. Surveyor, post: 454899, member: 12855 wrote: 2 weeks ago I got a call from a loan officer asking for a quote on a piece of property about 15 miles from me in a neighboring county. It is rural property and the county does not have much information on it. So while looking at what was available and doing some sleuthing before I give a quote I discover a significant problem with the deed whereas the preamble calls for 6 acres but it describes 7.5.
Now there is a deed and plat for the errant 1.5 acres but the subject deed is in error and will need to be corrected. So I informed the loan officer of this as well as the price of the survey but hadn't heard back until I followed up yesterday & I was just informed that they are not going to order a survey and will require the borrower to get a title policy.
So they are ignoring the problem, and it is a significant problem that can be corrected but they don't want to and as a result that landowner is at serious risk here of building a house on someone else's property and I'm kinda wondering......well........should I make a call?
Maybe what they meant is... not going to order a survey from you. :innocent:
Several years ago, a realtor contracted me to survey a 21-ac parcel. He provided me with a copy of a 1955 survey of the parcel.
My survey showed 20, not 21. Reason being the DOT had acquired R/W in the late 1960's. I placed all this info on the plat.
Realtor was annoyed at my plat, even questioning my work. I again explained the R/W acquisition as I had noted it.
He stated... "The sale price is per acre and this will affect my commission..."
I later learned he used the 1955 survey showing the 21-acres for the sale & closing...
The OP advised the potential client of a title issue. That was the professional thing to do. But, that is the end of your responsibility in this case. Unless you suspect a crime is being committed you need to walk away knowing that you could have fixed it if you were asked to. But since you weren't, let it go. Don't presume that you know all the facts, answers or solutions or can see into the future.
surv8r, post: 454938, member: 4 wrote: Several years ago, a realtor contracted me to survey a 21-ac parcel. He provided me with a copy of a 1955 survey of the parcel.
My survey showed 20, not 21. Reason being the DOT had acquired R/W in the late 1960's. I placed all this info on the plat.
Realtor was annoyed at my plat, even questioning my work. I again explained the R/W acquisition as I had noted it.
He stated... "The sale price is per acre and this will affect my commission..."
I later learned he used the 1955 survey showing the 21-acres for the sale & closing...
Even after you recorded your plat? That seems shady to say the least.
Unless you are hired by the TC or Owner I would move on. No use getting yourself wrapped up in something like that when you have no skin in the game. Move on.
As much as I want to try and alert the buyer or seller to a potential issue I will keep my lips sealed but it is frustrating knowing that it is being ignored.
I will be sure to inform my peers though.
Informing someone of a potential problem could very easily be construed as a professional opinon in future litigation.
It's not your problem until you make it your problem.
Trust me, you would NOT believe the lengths an attorney will go to advocate for his/her client, rightly, I might add.
Shhhhhhhhhhhh
I don't see how the following letter would get him in any trouble, as it doesn't state any opinions.
Dear Every Party To This Transaction:
I have observed the following facts that you should be aware of. As I have not been hired to do a survey, I have not searched for additional information which might explain the situation, and encourage you to do so.
1. The deed preamble states an acreage that does not appear to match the description.
2. A deed at book/page may affect this property.
Have a good day.
Mr. PLS
