cost of Inspection, Appraisal, Survey

**kristiem** · 01-26-2008, 04:13 PM

I am considering placing an offer on a 100+ yr old rural house with 5 acres. The home needs a lot of work which will be detailed in an inspection of course, the land needs to be surveyed, houselot needs a perc test.

Question is: A complete boundary survey could cost a thousand dollars with the inspection $300-400, perc test is $x and appraisal $200-300. In the case that discoveries convince me its best to cancel the offer -- I will have paid out several thousand dollars, essentially I'll have assumed a lot of costs that would then help the seller market to the next buyer. Am wondering how to proceed on this property while reducing the risk of being out several thousand dollars.

**CGjerdetu** · 01-27-2008, 09:01 PM

You will likely not need to have all inspections done before you have enough information to make a decision to proceed with buying the property. Start with the broader inspection first, most likely this would be a home inspection. The home inspector will point out likely problem areas and may request that certain aspects be evaluated further. You might have enough information from the home inspection to decide to proceed or cancel the sale. Unless the property lines are unclear the survey most likely could be completed once you have decided you are going to proceed with the sale.

**Mike Taylor** · 01-28-2008, 04:58 AM

Just do the home inspection first, then the appraisal, then the survey. If you find something wrong with the house it is usually going to be in the inspection. If something comes up with the survey it should be the seller's responsibility to fix it so they convey clear title.

**kristiem** · 01-28-2008, 09:00 AM

Thanks for all the good tips. I will definitely get the home inspection before proceeding on further costs..

a question on surveying...

Title vs. boundary survey

I plan to farm here and this property definitely needs a boundary survey (not just title survey); how do I write a purchase offer to make the seller responsible for fixing this contingency in the event that I pay for the boundary survey and a problem does come up with encroachment/right of way/etc..(which it very well may as it is an old new england property)

My understanding is that boundary surveys are more expensive than the title survey and this 5 acre old farm could be expensive to survey in this regard. . .

**carlam** · 02-13-2008, 02:56 AM

Home inspection first, survey last.

Not sure about the boundary survey, but with a title it must be "free and clear." You can ask that the Seller pay for title search. You may be able to ask that the seller pay for a boundry survey, but it will weaken your offer.