Transactional

By: William J. Burke, III

Whether you are buying a home, a lot on which you hope to build your dream home, an investment property, or land that you hope to develop, the quality of title is often the most important aspect of the transaction. Title problems, such as easements, may impact the value of an investment much more profoundly than the need to replace a roof or a heating system. Yet, most buyers spend little or no time reviewing their titles or understanding how matters of record may impact one of the most important investments they will ever make, and are later shocked when some easement, plan or restriction that is of record impairs their ability to put in a pool, an addition, or to use the property as they had hoped.

If you would like to learn more about when you should consider getting a survey, and how it may benefit you, please contact Bill Burke and visit the article on this site.

By: William J. Burke, III

Professional developers almost always obtain a new survey before buying property for further development, yet consumers buying homes or building lots for personal use, and casual investors buying investment properties such as existing office buildings or apartments, get a survey infrequently. What do the developers know that you don’t? They know that a survey could reveal problems that could substantially undermine the value of your investment and that are not discoverable by other means. Surveys disclose issues that do not appear in title searches, such as violations of zoning setback restrictions, evidence of unrecorded easements, boundary discrepancies with adjoining properties, property description errors, acreage content, and encroachments. Most if not all of these issues are excluded from coverage under ordinary Owners’ title insurance policies.

If you would like to learn more about when you should consider getting a survey, and how it may benefit you, please contact Bill Burke and visit the article on this site.

By: William J. Burke, III

As a result of the economic recession (prompting concerns about contractors’ solvency) as well as amendments to Pennsylvania’s Mechanics Lien Law that broadened mechanics lien rights in significant ways, many title insurance companies are refusing to insure against the possibility of mechanics liens or are imposing additional and sometimes onerous requirements in order to do so. This poses a problem and potentially significant risk for sellers, contractors, buyers, tenants and lenders alike, all of whom must be more cautious about mechanics lien issues than in the past.

For additional information, please contact Bill Burke, and see the article on about the Pennsylvania Mechanics Lien Law this site.