Dennis and Judy Massey are tremendous people. We are very grateful for their professionalism and extra time and hours they spent with us in selling our home and help in moving. In fact, I'm ready to sell our house and buy another one just so I can work with them!!
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.