I will be honest, real estate transactions can be challenging in this market. As a seller, you can take steps before you list that will help mitigate against unexpected escrow drama. If you have the means, we strongly recommend that a seller obtain a survey. We recently closed on a transaction where at first glance you would never expect survey to be problematic.
The property was in a subdivision that was new within the last 15 years. There were no outward signs of any significant encroachments. When the survey was completed all parties were shocked to find a three foot encroachment.
It turns out there had been an error by the original developer of the subdivision. The error was recognized in the late 1990s, but was not corrected as it was supposed to have been by the developer. While a solution was created to satisfy all parties, closing was delayed almost two months.
I may have also lost a few of those scarce hairs on top of my head in the process. Unless it is a short sale or an REO, most sellers are required to do a survey. If you get it done before going under contract, you may have the opportunity to address any encroachments.
