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Boy that true, I buying a piece of land, and put the down payment in escrow, and waiting on docs from the owner from T&C, but he want to get the downpayment cuz money tight,I tell him well deduct the cost of the search done by my lawyer and once it clean you'll get the downpayment he say ok, agent said they did an online search and it came back good, I say I'll wait for my lawyer, when it does come back, turns out a private loan was taken out with the land as collateral, so no money passing until that loan thing sort out.ftitan wrote:This is exactly why you should do the relevant searches and demand to see surveyed boundary pickets before putting out any money. It's the responsibility of the owner to show the land is free from any encumbrances, squatting or encroachment.
For future reference, put the sales agreement downpayment in escrow while you wait for the survey & search results. That way he can't legally sell to anyone else and you have time to get peace of mind. Or if you trust the owner, get a quote and put a clause in the agreement that you'll cover the survey and deduct the cost from the lump sum.
Anyway, you just buy somebody else problem and gonna pay more to fix it..and you probably gonna have an enemy as a neighbour now. Squatters does move like some real jacka$$ for your own land. Consult with your lawyer. You can either sell him the portion he's on according to the sq ft being occupied, tear down his structure after giving a written notice to vacate your land (talk to your lawyer for this), take him to court..or just eat the loss and move on.
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