Posted by Brent_IL on July 06, 2003 at 18:53:24:
I’d offer the buyer a small credit in escrow (< $400 for fence adjustment) and let hum duke it out with the neighbor after the sale.
Survey / Closing Issue - Posted by Mike G
Posted by Mike G on July 06, 2003 at 18:15:03:
I have a property for sale and will be signing a sales contract tomorrow w/ a very eager buyer. He has asked for only a few things to be fixed before closing, most of which are very minor and I have no problem taking care of. However, one of his issues is that the backyard fence dividing this yard and the neighbor’s is too far onto this property, cutting off 2 feet of yard. We confirmed this w/ the survey and he wants this moved over before closing.
My question is, who is responsible for this cost? Me, the neighbor, the title company?
I can see this as a potential problem if the neighbor puts up a fight, one I’d rather just avoid and sell to someone else (who either doesn’t notice or doesn’t care). I want to protect myself in my sales contract so I have an out if the neighbor doesn’t want to cooperate. Maybe say something like “This sale is subject to Seller correcting the backyard fence issue. If Seller is unable to do so before closing, both Buyer and Seller each have the option of cancelling this contract.” Anyone see a problem w/ this or have any other suggestions?
Re: Survey / Closing Issue - Posted by Bill H
Posted by Bill H on July 06, 2003 at 21:10:16:
Mike:
I suggest you “Bite the bullet” and get it resolved now. So you cancel this deal and another and another and another until you find someone who fails to notice and 3 years later they sue…You know about it and are on constructive notice…it will not go away. Take care of it now.
Ask the neighbor to move it. Offer to share the cost,etc…BUT…take care of it now.
========>bill