Are you telling your buyers about survey deletion?

By
Real Estate Agent with Waller Group

You can help protect you Buyers survey protection via the Title Policy.  Of the eight exceptions to the Title Policy, exception 8 reads "The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines, encroachments or protrusions, or overlapping improvements.  Buyer, at Buyer's expense, may have the exception amended to read, "shortages in area".

Survey deletion is when the buyer elects additional coverage with regards to most of the survey exceptions.  At a price of 5% of the premium amount, all the exceptions except "shortages in area" go away.  Not much of a payment for a lot of piece of mind.

Perhaps next time you represent a buyer would will make this suggeestion

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Anonymous
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Howdy there Richard

That there sure does sound like a real fine thing for home buyers to look into.

God Bless America

Apr 25, 2009 07:46 PM #1
Rainmaker
254,306
Connie Goodrich
Keller Williams Realty - McKinney, TX
CRS ABR (McKinney Realtor)Texas

A good title company will contact the buyer to offer this option as well ... goes to have good partners in the transaction who look out for the best for your clients.

Apr 26, 2009 01:09 PM #2
Rainmaker
802,593
Richard Weeks
Waller Group - Dallas, TX
Realtor, Associate Broker - Manager Business Development

Connie,

Thanks for the comments.  Very good point, I just would prefer the buyer hear it from me, and avoid having to hear why didn't you tell me about this.

But you can not discount working with great lenders and title companies.

Apr 26, 2009 01:12 PM #3
Ambassador
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Steve Shatsky
Prudential Texas Properties - Dallas, TX
Dallas Real Estate & Short Sale Specialist (214)213-0340

Hi Richard... I think the peace of mind would outweigh any added expense.  Thanks for sharing this info. 

Apr 27, 2009 01:01 AM #4
Rainmaker
413,313
Betina Foreman
512-771-6318 Austin Home Girls Realty - Austin, TX
Realtor, C.N.E. Selling Homes in Lake Travis & Central Austin!

Thihs benefit is definately worth it. Great post!

Apr 27, 2009 10:13 AM #5
Rainmaker
337,285
Ed Newman
Alamo Infrared Energy Audits & Building Evaluations - Riverton, UT

This is real good information - thanks for sharing, I'll be sure and pass it on

Oct 21, 2010 04:17 PM #6
Rainmaker
802,593
Richard Weeks
Waller Group - Dallas, TX
Realtor, Associate Broker - Manager Business Development
Ed
Thank you for thanking me, and I hope you got something of benefit and that  you will pass it on to others
Oct 21, 2010 04:26 PM #7
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Rainmaker
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Richard Weeks

Realtor, Associate Broker - Manager Business Development
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