45. A buyer is buying property and suspects a neighbor's fence is partially on the property that is being purchased. The buyer's licensee should advise the buyer to have
Answer: B
A staked survey performed.
To address the buyer's concern about the neighbor's fence potentially encroaching on the property being purchased, it is essential to conduct a staked survey. This survey will clearly delineate property boundaries and confirm whether the fence is indeed on the buyer's property.
A) the property appraised.
While having the property appraised can provide an estimate of its market value, it does not address the specific issue of boundary lines or encroachments. An appraisal does not ascertain the physical boundaries of the property, making this option irrelevant to the buyer's concerns.
B) a staked survey performed.
A staked survey is the best option as it involves a professional assessment of property boundaries, identifying any encroachments such as the neighbor's fence. This survey provides clear evidence regarding property lines, which is critical for resolving any disputes related to boundary issues.
C) the title insurance company lists it as an encroachment.
While having the encroachment noted by the title insurance company may provide some protection, it does not resolve the issue of boundary clarification. This option does not directly address the need for a concrete determination of property lines, which is necessary before proceeding with the purchase.
D) it listed as an exemption in the title policy.
Listing the encroachment as an exemption in the title policy is not a proactive solution. This option merely acknowledges a potential issue without resolving the uncertainty regarding property boundaries. The buyer needs definitive information regarding the fence's position, which this option does not provide.
Conclusion
The necessity for a staked survey is clear, as it directly resolves the buyer's concern about the neighbor's fence by establishing exact property boundaries. Options A, C, and D fail to provide necessary boundary clarity, while option B offers a practical solution to the potential encroachment issue. Conducting a staked survey is essential for ensuring that the buyer can make an informed decision regarding the property.