MORTGAGE INSPECTION definition
MORTGAGE INSPECTION. A Mortgage Inspection, YES or NO at the Buyer’s cost, will be ordered through ▇. ▇▇▇▇▇ ▇▇▇▇▇, Surveyor. Seller is not responsible for re-staking property prior to or after closing if original stakes have been removed. Buyer is responsible for paying an additional fee for property to be re-staked if Buyer so desires.
MORTGAGE INSPECTION means a substandard survey of a lot or parcel of land in which property lines and corners have not been established and is performed for the sole purpose of obtaining mortgage title insurance. This includes the location of the improvements and utilities as they relate to the property and a cursory check for violations or encroachments onto the subject lot or parcel based on existing but unconfirmed evidence and does not constitute a boundary survey and is subject to any inaccuracies that a subsequent boundary survey may disclose.