Buying A House With An Encroachment at Buying

Buying A House With An Encroachment. An easement is a legal right to use the property of another person for a specific purpose. No buyer should finalize a transaction that will leave them without clear ownership of the property.

Before the licence and lease agreement are issued, we will: In addition to liability, property encroachments can hurt the resale value of a home. If for nothing else, buying a house with an encroachment may be viewed as a red flag, or it may suggest there are hidden costs that need to be accounted for.

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It's not uncommon for neighbors to resolve an encroachment through the grant of an easement. Your neighbor might simply agree to take down the encroachment. In addition to liability, property encroachments can hurt the resale value of a home. Recourse when buying property where there is encroachment by a neighbor a survey costs a boatload of money in general (as in, several thousand).