This was our first time buying a house & we were clueless. Judy & Denny helped us so much along the way. Very pleased with the work they put in to really help us find a home. Both are very educated about the area & answered all the questions we asked. Hands down, they are the best Realtors in town!
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.