How much does a survey cost on property? (real estate, refinance)

[marykate1]

Hi,

I would like to know how much a survey will cost and whether this should be covered by seller?

Do lenders require surveys on property?

[Beto]

not all lenders require

[EasilyAmused]

It varies. Usually around 450

[hammer2000]

Also, I believe once a survey is done it is "valid" for some number of years. When we refinanced our home, we were not required to get a survey because the prior survey for the property was fairly recent and therefore was "still valid."

I believe anything required by the lender is typically the responsibility of the borrower. Anything can be negotiated into the contract, of course.

[Lake Conroe resident]

Originally Posted by marykate1

Hi,

Originally Posted by marykate1

I would like to know how much a survey will cost and whether this should be covered by seller?

Do lenders require surveys on property?

Depends on what type of property you are looking to buy as to what the survey will cost.
Cleared 9000 sq ft lot in a Platted subdivision = 350 + -
20 acres of uncleared land in an un restricted area = $2500+.

There are others in here that will tell you no but I have never known a lender to loan money on something unless they know what it is, I mean would you? What about flood and elevation certs, possible easment or access issues? The lenders I know of would not even entertain the idea of loaning $ on something with out a survey as they would have no idea of what they are really loaning on.

[EasilyAmused]

2500 for over 20 acres???????????

You got taken.

[chris_ut]

You can just call or email a local survey company and get an exact quote.

[Lake Conroe resident]

Originally Posted by EasilyAmused

2500 for over 20 acres???????????

Originally Posted by EasilyAmused

You got taken.

I didn't personally pay this; just saying that I've seen surveys that cost this and more. Just think if they had to go out to an un platted area and once arriving saw that they had a lot of "cutting" to do so they could shoot their lines, or perhaps part of it was in a creek etc. Also what about elevation certs if it's near a flood plain? This is not an unreasonable price at all for large acreage surveys. Crew of two people and probably two days of work; not going to get it done for a few hundred bucks like you could a small platted subdivision lot.

[sunny57]

Originally Posted by marykate1

Hi,

I would like to know how much a survey will cost and whether this should be covered by seller?

Do lenders require surveys on property?

Marykate...you do want a survey. It generally is a buyer expense...just really depends on how your contract is constructed. If your getting financing... your lender will be a good resource as far as the various costs associated with your closing....ask them for a "good faith estimate".

You've have several posts regarding the various aspects of a real estate sale/contract... are you using an agent? If so...their representation on your behalf appears to be lacking. These are conversations/questions you should have with them. It's part of the reason we get paid the "big bucks". Don't ever feel you can't ask for clarification ... especially as this is your first purchase. Good luck...Sunny

[blancspons]

Our lender required a new survey be done and it cost $350.