Are there really surveyors out there that certify to third parties other than their client or the bank and title company that their client is using without charging an additional fee for such. It must be true because the attorney says he has never had surveyors turn down the request. wink wink
I at first thought you posted "Surveyor Jollies". Maybe a pic of some lady, or a new truck, or something. Then, after what I read, I thought, "That's funny"! NOT Jolly though!
Gads, to certify to *.* is a scary thought. Ask the atty if he would accept a check for 1500 bucks, for "Unlimited Legal Services". Or if he would think that negotiating for say, 500 extra, (2k total), that he would certify to you unlimited legal services.
Cause, you may NEED unlimited legal services, if you sign his certificate!
🙂
N
We've had a few surveys with multiple lenders, Federal, State and City agencies and abstract company/title company combinations. Mostly they are publically financed housing or industrial projects, often with ALTA and HUD requirements.
One we did a few years ago on West 47th Street in Manhattan had two different developers, three banks, one title company, one abstract company, Fannie Mae, SonyMa and HUD.
Another on West 72nd Street, a mixed use resdiential/commercial building that had both First American and Chicago Title, plus 4 ownership entities, a German Bank and an Irish Bank.
We are currently awaiting a closing at a large urban mall with a similar list, including a Chinese bank.
In general, when we take on such projects, we configure the fee accordingly at the outset.
You may be liable to all the adjoiners and their future designees as well. You are messing with their rights as well as those of the client. Your interpretation can possibly harm them if deemed to be in error.
I can count the ALTA's I've been involved with one one hand, so I'm no expert here. But I've always wondered if the scary certs you hear about are really real. By that I mean can the guy signing one of these really back it up. If the damage is in the millions can the surveyor pay it off. I for one don't think so. So both sides are getting what they deserve. The surveyor is taking on a bunch of risk he can't really pay for. The client is asking for the feel good paper on the cheap. Yeah, they got a cert covering everything but if it ever comes to collecting they are not going to get paid. So from my view there you have it. Give me $50 bucks and I'll sign anything, the dirty little secret is it's not worth $50 in the long run. But grease is grease and if the lender funds the project everything is fine if a real issue never comes up. When the problem does come up they got a $50 cert not even worth $50. Then they figure out that suing the guy is just pounding sand down a rat hole and they let him go cause he can't pay. The guys asking for these cover everything certs must think surveyors are billionaires.
But I've always wondered if the scary certs you hear about are really real.
I can say that the requests are real. I've been asked to sign some crazy ones.
I think the worst item I ever saw was one where they wanted me to certify that there were no code violations on a property. I would assume that there are code violations on every property. Oh and don't forget the one where I was to certify that no laws were being broken on a property. That was a good one!
Needless to say I didn't sign. I told one of the guys to get someone else, please. He wanted it for nothing anyway.
> Are there really surveyors out there that certify to third parties other than their client or the bank and title company that their client is using without charging an additional fee for such. It must be true because the attorney says he has never had surveyors turn down the request. wink wink
In my little world: I can't remember an ALTA that did Not have third parties involved... so my fees already include that "additional" cost.
For other surveys and title work: I only work in recording states so it is a moot point.