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Answers to real estate questions as appearing in the Houston Chronicle
STEPHENS PROPERTIES
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Who pays for the survey?
DEC
29

Dear George: I'm in the process of buying a house. Who pays for the survey? The contract is confusing to me.

Answer: Let's assume the contract you refer to is the Texas Real Estate Commission One To Four Family Residential Contract (Resale), which is the contract most people use when buying and selling existing residential property. The party responsible for paying for the survey depends on which of three boxes is checked in Section 6C, Survey. The first selection indicates the seller will provide an existing survey or the buyer will obtain a new one at the seller's expense, given certain conditions. The second one says that the buyer will obtain and pay for a new survey. The third choice indicates that the seller will obtain and pay for a new survey. One of those boxes should be checked, depending on what you and the seller agreed upon.



2 comments so far...
2
January 06, 2012 4:43 PM
Yes, Mimi, you are correct in that the survey is reuired by the lender and is, therefore, typically a buyer's cost. However, it is not always a buyer's cost. Whatever arrangement the seller and the buyer have agreed to in Paragraph 6C controls who delivers and pays for the survey. Furthermore, the survey must be accpetable to both the lender and the Title Company.
Posted by: George Stephens
1
January 05, 2012 9:26 PM
It's my understanding that the survey is required by the lender so customarily it's a buyer's cost.
Posted by: Mimi Kwan
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