Karen is an excellent agent. She was very helpful at my time of despair. I would surely recommend her if anyone is looking for a good realtor. Karen, thanks to you the trailer was sold in a little over 4 months and all my worries and headaches are gone. Thanks for everything. I wish you all the best.
Why does the mortgagee sometimes require a Survey of the property?
Most mortgage lenders require a current and valid Real Property Report (survey) and proof of zoning by-law compliance from the local municipality, i.e. city, town, Municipal district, etc. The mortgagee (lender) does this to insure initially that the buildings are entirely within the property boundaries and there is no risk that the security for the mortgage will be damaged by the forced removal of the improvements. Most Lenders will now accept a Real Property Report and evidence of municipal compliance or a policy of Title Insurance.