Who pays for Survey? - Posted by Alex

Posted by Alex on May 15, 2006 at 16:12:35:

Thank you for your input.
The broker has negotiated a split of the cost, I’m going to rewrite the article and put a 50/50 split in place.
Alex.

Who pays for Survey? - Posted by Alex

Posted by Alex on May 15, 2006 at 13:24:33:

I almost have a contract signed on a 14-unit, the only item left in negotiation is Survey. There is an article in Ray’s sample contract from Dealmaker’s Guide that states that in event of Buyer’s lander requiring Survey done on the subject property, Seller will pay for it. I structured my contract the same way. Now, my seller does not want to pay for it, he is trying to locate his original Survey he had done when he was purchasing the property, but so far he could not locate it. Additionally, the broker tells me that from his own experience, the purchaser always pays for the survey.
I guess, it depends on a number of factors like where you are in the country, the structure of the deal itself, but is there a ‘norm’? Who usually pays for the survey?

Thanks!
Alex.

Re: Who pays for Survey? - Posted by Patrick S. Lawson

Posted by Patrick S. Lawson on May 15, 2006 at 15:26:00:

Seller…if it’s going to be a deal breaker and you really want the property…you.