Jan was great throughout the entire process. I have had her as an agent previously and the smooth transactions keep me coming back.. She even checked on the house for me and made sure the heat was on while I was in the process of moving. Thank You So Much!!
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.