Is it a law in Texas that a new survey is required on any ca

cbarr · Joined: 24 Jan 2008 Posts: 1 1.34 Dollars($)

I was told by the mortgage company that I am working with that it might be "law" in Texas that a new survey is required due to the fact it is a "cash out" refinance. My survey is only 5 years old, and there have been no changes to the lot, etc. since that survey was done. I don't feel that I should have to pay for a new survey just because the mortgage company wants more fees.

larry · Joined: 27 Jun 2007 Posts: 2598 349.41 Dollars($)

Hi cbarr,

Welcome to the forum.

I don't know exactly the laws of Texas but the mortgage company asked you for a new survey to verify if there have been any changes in the property since the last survey. You have said " My survey is only 5 years old". So there may have some changes in your property and they need to verify it. And regarding the law, I hope some Texas lender will inform you that.

Best of luck,
Larry

jerry

Hi Cbarr,

It's not specifically a law in Texas but in any state if there has already been a survey on your property about 5 years ago, the lender might want to check out if any changes have been done to the property/land in these 5 years. The lender simply wants to confirm that there hasn't been any significant change which can affect it's potential sale if at all you default on the loan.

Thanks,

Jerry

jheard · Posted: Fri Jan 25, 2008 8:09 am Post subject:

I am not aware of any such law in Texas. I can't see why a survey is needed to finance a property you already own. Check with other lenders in the area and see what they say.

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