10 things to Know About T-47 Residential Real Property Affidavit
You’re back again. We here at First Home Houston welcome you. We love having you visit. If you are purchasing a brand new home, you may not come in contact with the T-47 Residential Real Property Affidavit.
However, if you are purchasing an existing home you may. The requirement for the document is usually if the survey being used is older and the sellers need to confirm the accuracy of the survey. In other words, if any changes has been made to the property. Here are a few things to know about the T-47 Residential Real Property Affidavit.
The T-47 is to be completed by the seller/s.
The document must be notarized to be considered valid.
The seller can take the document to a title company to have it notarized or take it to a bank.
The purpose of the document is to state if any changes have been made to the property and the date those changes were made.
The T-47 is required when using an older survey.
It is very important for the seller to list every change that was made to the property, that is not reflecting on the survey being used.
The document ensures that information about the property boundaries is accurate for title policy issuance.
The T-47 benefits the buyer.
The cost of the new survey can be negotiated.
Your Real Estate Agent cannot complete this document for you.
Knowing as much as possible about the property you are buying is always in the best interest of you, the home buyer. If you are purchasing an existing home, you and your Realtor must take the necessary time to ensure the property you are purchasing is what it said on the survey.
We at First Home Houston is always looking out for your best real estate interest. As always, we thank you for stopping by. Until next time… Diana.
