farm purchase question

fishingtiger · Dec 28, 2009

I am looking at purchasing a farm and it is around 75 acres. There is a survey on file at the court house but it was done in 1970. SHould I have a brand new survey done before the purchase or can I rely on the survey from 40 years ago to be accurate? A new survey is going to cost around $3500.

Any advice would be appreciated.

SGADawg · Dec 28, 2009

I wouldn't even think about buying without a new survey. What % of the purchase price is $3500? Cheap for peace of mind and clearly defined boundaries.

Jim Baker · Dec 28, 2009

You buying by the acre or a set price for the peice of property.

If it is a free standing peice of property on its own deed, a new survey by you is not going to change the legal descripton on the deed held by the current owner.

If you are cutting out a parcel from a larger one then a survey will absolutely be neccessary.

That said I know of a peice of property that sold a few years ago, landowner claimed it was 250 acres and was asking $750,000. The buyer said he would pay $3000 per acre but wanted a survey. Ended up being 263 acres. The farmer would have been satisfied with the 750K but was happy to get the $789,000.

Twenty five ought six · Dec 28, 2009

If you are buying by the tract, and it is a survey by a reg. surveyor (probably is given the time frame) there's no need to have a new survey.

See if there have been any loans on the property in the last 40 years. If the banks were happy with the survey, you should be too.

Get owners title insurance.

Sargent · Dec 29, 2009

Get the survey... Think of it as an insurance policy.

Also, do not skimp on OWNER's title insurance. Best value in insurance.

Wild Turkey · Dec 29, 2009

if the old survey was done by a registered LS.
Call him and ask him how much to recertify the survey and flag the pins. If not get a new one. Where is it. I can point you toward a good surveyor.

Trooper · Dec 29, 2009

If you do not want to spend the money,usually on a smaller tract of 100 acres or less we will walk the property lines with a Gps and figure acreage ourselves. A lot of times retro surveys show a less acreage than a present survey.This being because of the technology in equipment used today. The last sell I did was supposedly 100 acres on a survey from back in the 70's.We Gps'd @ 105 acres. The buyer then decided to get a current survey while the landowner was fine with 100 acres @ 5 k an acre.After a survey was complete, the tract surveyed at 105.9 acres.It cost the buyer $29,500 extra.Something to think about....

Swamprat · Dec 29, 2009

Get the survey....cheapest form of insurance against encroachments or encumberances of others on the property.

Also the parcel may survey out at 80 acres or 70 acres. I would not rely on a 40 year old survey. Lots of things can take place in that time. That brand new barb wire fence the adjacent landowner put up and swears is 5 feet into his property could well be 10 feet into your property.

Twenty five ought six · Dec 29, 2009

Swamprat said:
Get the survey....cheapest form of insurance against encroachments or encumberances of others on the property.

Also the parcel may survey out at 80 acres or 70 acres. I would not rely on a 40 year old survey. Lots of things can take place in that time. That brand new barb wire fence the adjacent landowner put up and swears is 5 feet into his property could well be 10 feet into your property.

That brand new barbed wire fence won't show up on a survey.

No will most encroachments, or any encumbrances.

Swamprat · Dec 29, 2009

Twenty five ought six said:
That brand new barbed wire fence won't show up on a survey.

No will most encroachments, or any encumbrances.

Not to side track the subject but on all boundary surveys we perform the corners are either found or missing ones reset as well all of the improvements shown which includes any fences or possible encroachments along property lines.

If there is a foot path used by others cutting across the corner of the property we will show that. A four wheeler trail coming in from an adjacent property is shown, etc.

If your surveyor is not showing or noting all of the above things then they are not doing a proper survey but basically a sketch of description. Not showing a existing fence as to how it relates to the actual boundary line is pure negligence.

fishingtiger · Dec 29, 2009

Thanks everyone! Very good advice. I think it is worth paying the money for peace of mind. As a side note, my grandfather purchased a farm back in the 50s that was listed as 100 acres+/-. He paid for the 100 acres and about 20 years later, he had it surveyed. Turned out to be 300 acres. The 100 acres was the farmable portion of the land. The other 200 was cypress swamp. He made out pretty well on that deal.

DONK · Dec 29, 2009

fishingtiger said:
Thanks everyone! Very good advice. I think it is worth paying the money for peace of mind. As a side note, my grandfather purchased a farm back in the 50s that was listed as 100 acres+/-. He paid for the 100 acres and about 20 years later, he had it surveyed. Turned out to be 300 acres. The 100 acres was the farmable portion of the land. The other 200 was cypress swamp. He made out pretty well on that deal.

That's exactly why you get a survey, to see what you are buying!

swamp hunter · Dec 29, 2009

FIND THE PINS!!. I bought 5.73 Acres for my Cabin . Found all the old PVC Pipe , painted red at the corners. Looked good. Put up a 24x26 Metal building and then found out I was 6 FT. from the line. Set Backs are 25 FT. Good thing it,s where nobody will ever live next door, Ever, Less they got a house Boat. Surveryor should be able to find the pins easy now. BUT, Having said that a old survey , just ain,t up to persise ways they do it now. It,s on the Money , not just right over there. If I,d been 6 ft. further west , I,d a had to buy 6 acres of Swamp for nothing. 13 K out of my pocket.

david w. · Dec 29, 2009

need a helping hand with the farm when you get it? ::ke:

Jim Baker · Dec 29, 2009

swamp hunter said:
FIND THE PINS!!. I bought 5.73 Acres for my Cabin . Found all the old PVC Pipe , painted red at the corners. Looked good. Put up a 24x26 Metal building and then found out I was 6 FT. from the line. Set Backs are 25 FT. Good thing it,s where nobody will ever live next door, Ever, Less they got a house Boat. Surveryor should be able to find the pins easy now. BUT, Having said that a old survey , just ain,t up to persise ways they do it now. It,s on the Money , not just right over there. If I,d been 6 ft. further west , I,d a had to buy 6 acres of Swamp for nothing. 13 K out of my pocket.

I have never know a surveyor to use PVC as permanent monuments for boundries. Secondly surveying the property does not automatically allow you to move any old monuments. The adjoining landowner may have some say in that.

The legal description on the deed determines how much property you own. You can not change the legal desciption on a recorded deed just because you pull a survey.

The survey may find that a monument is missing or moved, but you still on the property. The adjoining landowner can't claim the property without seeking a legal remedy.

A survey on a platted piece of property is a waste of time and money. Even if a monunment is missing you can define its position on your own referencing the existing ones. If the adjoining landowner does not like where you put it let him pay for the survey.

farm purchase question

fishingtiger

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Jim Baker

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Twenty five ought six

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Sargent

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Wild Turkey

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Trooper

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Swamprat

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Twenty five ought six

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