SURVEYS: ARE THEY REQUIRED?
- In the Offer to Purchase, a clause requiring the Vendor to provide a survey for the condo is NOT NEEDED, since condo plans are ALWAYS on file in the Land Registry System, and are too bulky for dealing with copies in processing a sale transaction.
- Even though a purchaser may obtain Title Insurance (which can eliminate the need for a survey), a clause in the Offer to Purchase which requires the vendor to provide an existing survey is IMPORTANT
- Surveys for non-condos are important as they provide useful information such as
- lot size should one wish to install a fence along lot boundaries or make improvements or additions to the property
- the location of the building on the lot
- set backs
- If available, surveys are reviewed by the purchaser’s lawyer when doing the legal processing for the purchase.
Should you wish to insert a survey clause in your Offer to Purchase a residential NON-CONDO, the best clause to use is the following:
“ Immediately upon acceptance, the vendor will provide the purchaser’s lawyer with a legible copy of the survey showing all structures. Should a survey not be available, or should such survey copy fail to be legible, or fail to show surveyor’s name or survey date, or fail to show all structures, purchaser’s will receive a credit in the statement of adjustments on closing for