If a lender is involved in the transaction, removing any survey exceptions from the title insurance policy would be a requirement of a lender. A title company would require a survey in order to remove any survey exceptions. So, in order for the title company to comply with the lenders instructions, a survey would be required.
If it is a cash deal, then a title policy could be written leaving in the exception to coverage for any matters found on an accurate survey. In this case, the survey would be an option rather than a requirement.
It is a good idea to get a survey, even on a cash deal and avoid survey-related issues after the closing.
If you have the better answer, then send it to us. We will display your answer after the approval.
Rules to Post Answers in OneStopFAQs.com:-
There should not be any Spelling Mistakes.
There should not be any Gramatical Errors.
Answers must not contain any bad words.
Answers should not be the repeat of same answer, already approved.