Cameron is a customer of mine, and I like to do business with people who do business with me. This was my first business experience with him, and my wife and I were extremely pleased. He has a good knowledge about the industry and the current real estate climate, and was very prompt at getting back with us on any issue or concern. He directed the whole process very well.
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.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS
Listing Data updated: November 23, 2024, 11:30 pm
IDX information provided by the Indiana Regional MLS
