does the seller of a commercial property typically pay for property surveys?

This would include environmental surveys (water & sewer hook up sites not currently used)
In Selling Property - Asked by Lorie T. - Jun 22, 2010
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Answer(s)

susan l.
Winter Park, FL

I am not sure where you are located, but in Florida most sellers provide boundary and or topo surveys, and enviromental surveys if they have them (many do not).

Jun 22, 2010
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Brandi L.
Oak Brook, IL

Seller usually provides a copy of the existing survey and environmental report during the due diligence phase and provides a new or updated survey prior to closing. For smaller transactions, a plat of survey will typically suffice. Larger transactions often require an ALTA survey which is more expensive and identifies the characteristics of the site in greater detail including easements, setbacks and other matters of title.
Jim Blanchard
Inland Real Estate
jblanchard@inlandgroup.com

Jun 22, 2010
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D D.
Broker/Agent
Irvine, CA

It depends on the region and customs in that region.
Look at it this way though.
The more you provide the more you have taken control of your selling process!
Use recognizable 3rd party consultants, pay for complete surveys and that does not include just boundry and site surveys ether it can include matters such as property condition assessments, title, Phase I assessments etc.
ALL these will streamline your sales process and reduce false starts especially in tougher market conditions.

Jun 22, 2010
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Tjader G.
Broker/Agent
Novi, MI

In Michigan it's generally the Purchaser's responsibility to acquire all desired due diligence. That said, Seller should in good faith provide and 'existing' due diligence materials including items such as survey, environmental reports, soil reports, site plans, etc.

Jun 29, 2010
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David K.
Broker/Agent
Montgomeryville, PA

In Pennsylvania, surveys are not required as part of the transaction. With that being said, anything is negotiable. Requesting the Seller to provide any information readily available is always a help during the Due Diligence Period.

Jun 29, 2010
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Devin P.
Broker/Agent
Delafield, WI

Lorie-
I would recommend you re-ask this question stating what specific state (and maybe county) that you are in. As this does vary by geography - and it would be best if you got answers from an expert in your area!
Good Luck!

Jul 1, 2010
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Patricia S.
Broker/Agent
Orlando, FL

If the seller has one available all the better. If it is a new development the developer will usually provide them at no cost. If there is a recent survey around (3 or 4 years old) some times the old surveying company will recertify it for a smaller cost.

Jul 7, 2010
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