What's supposed to be documented in a survey (insurance, mortgage)

[jwint]

I got a survey the property I am going to purchase. I was surprised that the septic and well locations weren't on it. Esp since from the markers, the well sits outside the properties boundaries! Are the well and septic supposed to be included in the survey? (this was a standard survey the realtor ordered for me/mortgage co/title co) Is it the surveyors job to research and note easements or encroachments? Bc he did not. Who's responsibility was it to inform me of this potential problem - bc if I didn't walk the boundaries myself I never would've been told!
In addition, the property was erroneously put as in a flood zone. Again, who's job is that to review, bc no one did. If I didn't catch it that would've been a nasty surprise at closing. (Beware of this potential NJ buyers!! This home looks nowhere near a flood zone.) If he believed it was in AE, isn't it his job to measure the lowest mechanicals and give a base flood elevation of the house? Which he did not. Surveyor amended the report but it still states part of the property, but not the dwelling, is in a flood zone. So the title co may require flood insurance if there's any mention of being in a flood zone. Can someone please help me to be clear on all this so I can 1. protect myself and 2. know who to and not to blame for diff things, both being important to me. Thanks to all who reply!

[vision33r]

Originally Posted by jwint

I got a survey the property I am going to purchase. I was surprised that the septic and well locations weren't on it. Esp since from the markers, the well sits outside the properties boundaries! Are the well and septic supposed to be included in the survey? (this was a standard survey the realtor ordered for me/mortgage co/title co) Is it the surveyors job to research and note easements or encroachments? Bc he did not. Who's responsibility was it to inform me of this potential problem - bc if I didn't walk the boundaries myself I never would've been told!
In addition, the property was erroneously put as in a flood zone. Again, who's job is that to review, bc no one did. If I didn't catch it that would've been a nasty surprise at closing. (Beware of this potential NJ buyers!! This home looks nowhere near a flood zone.) If he believed it was in AE, isn't it his job to measure the lowest mechanicals and give a base flood elevation of the house? Which he did not. Surveyor amended the report but it still states part of the property, but not the dwelling, is in a flood zone. So the title co may require flood insurance if there's any mention of being in a flood zone. Can someone please help me to be clear on all this so I can 1. protect myself and 2. know who to and not to blame for diff things, both being important to me. Thanks to all who reply!

Flood zone doesn't mean it has to near a river or stream. It could mean the water table is higher than other places the potential for flooding when there is significant rain. That's the problem with climate change is that water has been rising underground on low level areas.

As for responsibility, unfortunately this is all on you because nobody is going to tell you all of this and you have to do your homework. The pros is that most likely the property you're looking at is below market value for this very reason. If there were no problems with the property and it doesn't sit in flood zone the market value would jump. Buyers flee when the see a house is on a flood zone, regardless it is legit or not, it's up to FEMA to determine that.

So best of luck is that to make a decision where or not there is enough value in the home for you or simply cut your losses and walk.

[jwint]

Thanks for the advice vision. Luckily I'm pretty well versed in this subject or I think I may have been in trouble. My point was that survey zoning info was confirmed as wrong and that was fwd to title co, which could've caused me a lot of headaches and money. I ended up researching it for myself to find out reporting requirements - meaning, for this survey zoning info is not required. I also called several local profs to see what the informal standard is in this area. This area is full of flood zones, so everyone around here accepts it without much thought. If anyone in the future runs across probs w a survey I do not recommend taking anyones word that it will be fine. Do your own research.

[JERSEY MAN]

A flood elevation survey and a property survey are different. 2 separate surveys.