Navigating Land Surveys in McKinney: Why Old Ones Get Rejected & Who Pays

Hey there, McKinney home seekers and sellers! Brandon Scribner here, your trusted top realtor in McKinney, ready to dive into a topic that often pops up during real estate transactions: the mysterious world of land surveys. It’s a common scenario: you’ve found your dream home, the offer is accepted, and then the title company asks about the survey. Suddenly, that dusty old document tucked away in a drawer might not be good enough. So, let’s tackle a couple of great questions I frequently get: "Why might an old land survey be rejected by a title company, and who typically pays for a new one in this state?"

First off, let’s talk about why an old survey might get the thumbs down. Think of a land survey as a snapshot in time of a property's boundaries and features. Over the years, a lot can change, and title companies are all about mitigating risk and ensuring clear title for your property.

1. Age Matters: The most common reason is simply age. An old survey, say 10, 15, or even 20+ years old, might not reflect the current reality on the ground. Fences could have been moved or built, new structures added (like a shed or pool), or neighboring properties might have undergone changes that impact boundary lines. 2. Accuracy and Technology: Surveying technology has advanced significantly. Older surveys might have minor inaccuracies due to less precise tools or methods used at the time. A title company wants the most accurate representation possible to avoid future disputes. 3. Missing or Outdated Information: The original survey might not have noted all easements, encroachments, or setback lines that are now crucial. Or, existing easements might have expired or new ones created. Title companies need to ensure all encumbrances are clearly documented. 4. Lender Requirements: Many lenders have specific requirements regarding the age of a survey. They want a recent survey to protect their investment, ensuring there are no hidden issues that could affect the property's value or marketability. 5. Changes to Adjacent Properties: Sometimes, nearby subdivisions or new construction can subtly shift boundary interpretations or require updated records for the entire area. 6. Discrepancies: If the title company finds any discrepancies between the existing survey, public records, or their own observations, they'll almost certainly require a new one. They're ensuring the property you're buying is exactly what's described, free from unforeseen claims.

Now, onto the second part: "Who typically pays for a new survey in Texas?" This is a fantastic question, especially for first time home buyers navigating closing costs. In Texas, the answer is often: "It depends!" Unlike some states where one party traditionally covers it, here in our great state, it's generally a negotiable item between the buyer and the seller.

As your dedicated top realtor in McKinney, I’ve seen it go several different ways. In a seller's market, the buyer might be more inclined to pay for the new survey to make their offer more attractive. In a buyer's market, the seller might agree to pay to incentivize the sale. Sometimes, the cost can even be split between both parties. The key is that it’s a closing cost that gets hammered out during the negotiation phase. If the seller has a recent survey that meets the title company's requirements, they might offer to provide it, saving everyone time and money. But if a new one is needed, it becomes part of the negotiation.

From my experience helping countless clients with Home Buying Assistance and Home Selling Services, a good survey is an invaluable investment. It provides peace of mind, clearly defines your property, and helps prevent future headaches. I, Brandon Scribner, as your trusted top realtor in McKinney, always emphasize the importance of understanding these critical details. Having an expert on your side who understands the nuances of Texas real estate is crucial for a smooth transaction.

Ready to navigate the McKinney real estate market with confidence, armed with the best advice and proven strategies? Don't hesitate to reach out! As a dedicated top realtor in McKinney, I offer a Free Consultation to discuss your specific needs, whether you're looking for your next home, selling your current one, or exploring real estate investing. Let's make your real estate journey smooth and successful!