Question

Why would a buyer be asked to sign a waiver before a survey is performed on the Delaware property under contract?

A. As a warning to the buyer that the survey performed won't identify property boundaries
B. As notice to the buyer that the survey may show information that differs from what the seller has given
C. To ensure the surveyor is licensed to perform work on the type of property
D. To prevent a lender from being charged for the survey

Answer 1

A buyer may be asked to sign a waiver before a survey is performed on a Delaware property under contract to inform them about potential limitations and discrepancies and to prevent the lender from being charged for the survey.

Step-by-step explanation:

Before a survey is performed on a Delaware property under contract, a buyer may be asked to sign a waiver for several reasons:

1. As a warning to the buyer that the survey performed won't identify property boundaries: Sometimes a survey may not accurately determine the property boundaries, and the waiver would inform the buyer of this limitation.
2. As notice to the buyer that the survey may show information that differs from what the seller has given: The survey could reveal discrepancies or inaccuracies in the information provided by the seller, and the waiver would inform the buyer of this possibility.
3. To prevent a lender from being charged for the survey: By signing the waiver, the buyer acknowledges their responsibility for payment, ensuring the lender is not held liable for the survey costs.