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Who's generally responsible for ordering and reviewing a survey of the property?

a. the buyer
b. the lender
c. the seller
d. the title insurance representative

1 Answer

6 votes

Final answer:

The buyer is generally responsible for ordering and reviewing a property survey during the due diligence of a real estate transaction to understand boundaries and ensure there are no encroachments. Option A is correct.

Step-by-step explanation:

Generally, the person responsible for ordering and reviewing a survey of the property is the buyer. This is often part of the due diligence process during a real estate transaction. The buyer may request a survey to have a clear understanding of the property boundaries, any easements, or potential encroachments. Meanwhile, the lender may require a survey to ensure the property matches the description in the title before approving a loan. The seller typically provides access to existing surveys, but the buyer usually initiates the new survey. The title insurance representative may review the survey to address any issues that could affect the title insurance policy.

User Richard Levasseur
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