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Lost $1,850 on a Plaza Midwood flip because I skipped the survey
Bought a duplex on Nassau St last spring thinking the fence line was the property line, turns out the neighbor's driveway sits 4 feet onto my lot and the title had an old easement nobody flagged. Had to renegotiate with the buyer and ate $1,850 plus a month of holding costs. Anybody else get burned on a survey they tried to save $400 on?
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brianellis4d ago
Surveys are one of those things where the cheap route usually works out fine and nobody talks about it. I have done a bunch of flips and only paid for a survey twice, both times because the lot lines looked weird on the plat map. The other deals closed without a single problem and I saved way more than $400 across all of them. The easement issue you hit is really a title search problem, a survey alone would not have caught an old recorded easement anyway. Sounds like the title company missed it and you are blaming the wrong $400.
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