Texas Purchase or Sale of Real Property - Land or Lot - Questionnaire

State:
Multi-State
Control #:
US-Q1036
Format:
Word; 
Rich Text
Instant download

Description

This form addresses important considerations that may effect the legal rights and obligations of the parties in a lot or land sale matter. This questionnaire enables those seeking legal help to effectively identify and prepare their issues and problems. Thorough advance preparation enhances the attorney’s case evaluation and can significantly reduce costs associated with case preparation.



This questionnaire may also be used by an attorney as an important information gathering and issue identification tool when forming an attorney-client relationship with a new client. This form helps ensure thorough case preparation and effective evaluation of a new client’s needs. It may be used by an attorney or new client to save on attorney fees related to initial interviews.


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FAQ

Who pays for a survey in a Texas real estate transaction is always negotiable. It can usually make sense for the seller to pay for one so if the transaction doesn't go through the seller will have a survey ready to go on their next deal.

Here are the average property survey costs for a few states: New York: $380$900. South Carolina: $250$600. Texas: $200$550.

Here are the average property survey costs for a few states: New York: $380$900. South Carolina: $250$600. Texas: $200$550.

In general, the party who wants the survey is the one who pays. For instance, if the seller wants the survey, then they must hand over the money, and likewise for the buyer. The amount you pay typically depends on the size of the property, with more extensive surveys costing more.

Who is responsible for providing the survey? The short answer is: This is negotiable between buyer and seller. In looking at the Texas Real Estate Commission's One to Four Family Residential Contract there are three main options.

As the survey is chiefly going to help the buyer it tells you what state of repair it is in and possible risks with the property it is usually the buyer who arranges the survey and pays for the survey. Homebuyers generally arrange to have a house survey done after their offer has been accepted by the seller.

If the seller of the property cannot or does not complete and sign the T-47 affidavit, then a new survey is required. If additions or changes to the property are close to a boundary line, a new survey will likely be needed. On occasion, an owner may even be asked to sketch specific changes onto the survey.

If the seller of the property cannot or does not complete and sign the T-47 affidavit, then a new survey is required. If additions or changes to the property are close to a boundary line, a new survey will likely be needed.

A mortgage survey is a type of property survey that is typically requested by insurance companies or lenders, not the homeowner. It is often required when you purchase a home because your mortgage lender has to be able to verify the property's description.

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Texas Purchase or Sale of Real Property - Land or Lot - Questionnaire