Phil Corrona at Klein Real Estate has been absolutely wonderful in helping us navigate through a complicated situation in selling a home. The process has been very frustrating but Phil has stood right by our side and ensured that we have understood the process each step of the way. His attention to detail is impeccable and he is a highly compassionate and professional person. We would recommend Klein Real Estate to any of our friends and family. They truly offer top notch service.
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.