Why do lenders want a survey before settlement?
Most lenders require a survey of the property before settlement. A survey checks the boundary lines, determines whether the house is within the borders, looks for encroachments and determines if any easements affect legal title.
Costs of a survey, typically paid by the seller, can vary. Sometimes an old survey can be updated for a lower cost. Having a surveyor plant stakes on corners of the lot is usually an extra cost.
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