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Ring-Ring

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Kent McMillan
(@kent-mcmillan)
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My personal favorite example of a real estate "professional" is a broker who specialized in selling ranches. They were big-ticket sales and he made a bunch of money at it. Those same ranches were often properties that hadn't been resurveyed in maybe 75 years or more and the odds would be about 50% that a decent survey would find something that a prudent buyer would want to know about. Perhaps a boundary agreement that was needed with an adjoining owner or owners or perhaps something that would directly affect title such as the existence of a vacancy.

The way that the real estate broker dealt with this was to convince the parties to the transaction that it was the "custom" for the seller to provide the survey! "Okay, when can we close?" said Mr. Buyer. You probably know where that led. It was Mr. Broker who on the seller's behalf chased down a compliant surveyor to make sure that nothing got in the way of the closing.


 
Posted : January 30, 2013 12:19 pm
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