Homebuyers have the right to have a survey clause added to the
real estate contract on the home they wish to purchase.  When
this home is yours, you should be aware of the implications of
this clause.
 
Your current survey may no longer be up-to-date if you have had a
swimming pool built, or an addition added, since the survey was
drawn up.  If your survey is not up-to-date by these standards,
the buyer may request an updated survey.  The homeseller may be
required to bear the cost to have a new survey prepared.  The
cost for this process typically runs anywhere from $700 to
$1,000.  This is $700-$1,000 less that you will net for your
home.
 
An experienced real estate agent should provide you with a survey
and it is up to the buyer to decide if the survey is acceptable.
 
Your agent should be able to advise you appropriately when
dealing with this issue, but if you or your agent are unsure, you
have the right to consult your lawyer before you sign the offer.
Don't be afraid to take this important step, as thousands of
dollars could be riding on the decisions you make at this point.
For more information, call us at 215-576-8666!