It is important for a Buyer obtain Title Insurance, which in some circumstances can eliminate the need for an up-to-date survey (or possibly any survey).
However it is important for Buyer’s to require a clause in the Offer to Purchase that requires the vendor to provide an existing survey (if possible). It is particularly important for a Non-Condominium Buyer to obtain a Survey copy for future reference if any future purchaser should ever want to consider location of lot boundaries for the purposes of fence locations or for the purposes of an intended addition or improvement to the property.
The survey copy is also useful to check lot size, location of building on the lot, set backs, encroachments, easements, etc. which can be reviewed by the Buyer’s Lawyer when doing the legal processing for the purchase.
It is important that you only agree to provide a survey if you actually have an existing copy in your possession (otherwise you will have to pay to have one made and that can affect your Title Insurance Policy).
