Buyer Beware
Buying a home or land? Be sure to look at the deed to the property. Are there any rights or easements recited in the deed? Be sure you know whether the property is subject to any easements or rights of way. How does the deed describe the boundaries? Can you find the boundaries? Do you see anything within the boundaries that is being used by someone else?
A woman purchased a home some time ago and there was a dirt road next to the home. She didn’t look into that, and over the years her neighbors have now paved the road, widened the road and increasingly disturbed her. The neighbors blow leaves, stones and dirt toward her home from the road. She wishes she hadn’t bought the home and hopes to one day sell it.
When she purchased the home, she and her attorney should have thoroughly explored the rights of her neighbors and the impact it would have on her quality of life. Unfortunately, that was not thoroughly explored and discussed.
I have gone to closings and heard attorneys, for the first time, mention to the Buyer the rights or restrictions expressed in the deed as if an afterthought. To discuss those things at the closing is too late!
When a Buyer informs me they are purchasing a property, the first thing I do is look at the deed and give them a copy. If it has any rights or restrictions in it, they need to be explored and understood right away.
Buyers would be wise to read the deed to the property, review their boundaries and be familiar with their boundaries and any rights of third parties. This should be done within the inspection period provided in the Purchase and Sale Agreement.
