What must be included with the existing survey when presented to the title company and lender?

What must be included with the existing survey when presented to the title company and lender?

• A. The seller's written statement
• B. A notarized affidavit about any changes
• C. The listing agreement
• D. None of the above

Answer: (B)

To ensure that the title company and lender have all the necessary information regarding the property's boundaries and any changes that may have occurred since the survey was conducted, a notarized affidavit about any changes must accompany the existing survey. This affidavit serves as a formal declaration and provides assurance to the lender and title company that there have not been any alterations to the property that could affect its boundaries or condition. Including such an affidavit is crucial because surveys can become outdated due to changes in property lines, improvements, or other modifications. By providing this notarized documentation, it helps to clarify the current status of the property, which is vital for underwriting and securing financing. The other options do not fulfill this critical role. A seller's written statement may provide some information, but it lacks the formal weight and legal assurance of a notarized affidavit. The listing agreement pertains to the sale process rather than the necessary documentation for the title and lending process. Therefore, the notarized affidavit is essential for the protection of all parties involved in the transaction and to ensure there are no surprises related to the property’s status.

To ensure that the title company and lender have all the necessary information regarding the property's boundaries and any changes that may have occurred since the survey was conducted, a notarized affidavit about any changes must accompany the existing survey. This affidavit serves as a formal declaration and provides assurance to the lender and title company that there have not been any alterations to the property that could affect its boundaries or condition.

Including such an affidavit is crucial because surveys can become outdated due to changes in property lines, improvements, or other modifications. By providing this notarized documentation, it helps to clarify the current status of the property, which is vital for underwriting and securing financing.

The other options do not fulfill this critical role. A seller's written statement may provide some information, but it lacks the formal weight and legal assurance of a notarized affidavit. The listing agreement pertains to the sale process rather than the necessary documentation for the title and lending process. Therefore, the notarized affidavit is essential for the protection of all parties involved in the transaction and to ensure there are no surprises related to the property’s status.