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Real Estate Law – What’s Important To Know About Surveys When Buying A House in New York?

  • A survey is very important because without a survey a title insurance company will not insure your title.
  • Title insurance companies need to see that survey in order for them to issue their policy because the survey shows you the exact boundaries and dimensions of your property.
  • Surveys are also important because sometimes people are not sure of where their boundaries end.
  • Often times in city properties, neighbors are closer to each other and their fences and very often times the fences are not accurately on the property lines and they encroach.
  • It’s important to know what your boundary lines are or what the dimensions are.
  • Surveys generally cost about $750 or to update an existing survey might cost about $150.
  • Generally, the rule of thumb is if the survey is more than ten years old, you would need to get a new survey.

This short informational real estate law video was provided by Arnold Drucker, an experienced Jackson Heights Real Estate Lawyer.