You may spend hours tending your gardens, pruning the trees and mowing the lawn. Unfortunately the house next door which has been turned over to the bank, is not nearly so well cared for. The plants may be dying, and the lawn and gardens left untended.
These are common problems in neighborhoods containing foreclosed residences. Other issues include:
General decline of property values in neighboring homes.
Swimming pools left to stagnate and eventually creating health concerns.
Failure to continue regular pest control procedures, creating a haven for pesky rodents or insects.
General deterioration of the appearance of the neighborhood.
One of the more serious consequences is the evidence of crime due to vacant lots which offer a shelter for criminal activity including drug dealing and vandalism. Increased incidents of drug related activity can also lead to other crimes such as robbery and muggings.
In 2006 a paper called "The External Costs of Foreclosure: The Impact of Single-Family Mortgage Foreclosures on Property Values." studied the effects of foreclosures on neighboring homes and discovered that "An increase of fewer than three foreclosures a year for every 100 owner-occupied homes in a neighborhood, corresponds to about a 6.7 percent increase in violent crime."
Another fundamental problem is that of legitimate renters losing their homes. Since a large number of the foreclosed residences are rental properties, when a property is seized, the residents are removed and forced to find other accommodations. Now these tenants, some of whom were long term, stable renters, are out on the streets and the house sits abandoned.
This foreclosure epidemic has hit quickly and hard creating some nasty consequences. Unfortunately, this one could have been prevented with the initiation of proper legislation and monitoring of fraudulent lending practices.
Perhaps you know someone who spent a small fortune erecting a beautiful fence, only to have the neighbor threaten to sue because the fence is two or three inches on his land. Moving a fence can be an expensive process. I have even heard horror stories where the neighbor was so mad that he rented a bulldozer and knocked the offending fence to pieces. If you have constructed your fence in the wrong place, you might find yourself in a world of financial and emotional grief. Even if your current neighbors are wonderful, someone not so charitable may move in next door and start complaining about the location of your fence.
Before erecting a fence -- or buying property, for that matter -- you want to make sure that you know where your property boundaries are located. Determine the exact location of your property boundaries by comparing your legal description with the survey.
The property description -- sometimes called a legal description -- is something that you receive before you visit the title company to sign closing documents. Generally, a few weeks before closing, the title company or escrow company will send you a sample deed, a title commitment and other legal documents to review before the closing. If you already own the property, the legal description of your land will be included with your deed.
Some property descriptions are fairly simple, such as 'SW NW NE Section 10 Township 9 North, Range 22 East;' others are more complicated. The latter form of property description is what is termed a 'metes and bounds' description that reads something like 'thence 15 degrees, 22 seconds west a distance of 325 feet, thence south 8 degrees, 15 seconds west,' and so forth. The metes and bounds descriptions are based upon surveys. If you were not given a survey by the seller or the title company, demand one. There is no way that you will know whether the property description is correct unless you can compare it with the survey. It is not unusual to find typos or other errors that seem minor. Those insignificant errors have the potential to create huge problems down the road. Do not accept typos or errors in your property description. This is your property and investment and you have the right, if not obligation, to demand perfection in your legal documents.
Once you are satisfied that that the property description is in order, be sure to locate the survey stakes by physically walking your real property. If you cannot locate the stakes, have the surveyor come out to your property and either show them to you or reinstall them. Before fencing your property, put a red flag or something near the survey stakes so that you can find them.
There might be restrictions that prohibit you from building your fence flush with your property line. Here in Arizona, for example, cattle easements of at least 10 feet around the perimeter of your rural real estate are common. You are not allowed to enclose the easement with a fence or otherwise. Underground utility easements, driveways, or right of ways are examples of other types of easements that might play a role in where you can or cannot construct a fence. Easements are typically shown on a survey. Unless it is a prescriptive easement, the easement should be documented in a recorded easement or other document available from your county recorder.
Good fences can make good neighbors if they are constructed properly and in the right location! Have clear knowledge on your property boundaries, easements, and any restrictive covenants before starting your fence construction. A bit of document review and preparation beforehand can save you a great deal of aggravation and possible legal actions down the road.
Both Re Writer & Deborah Beeksma are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Re Writer has sinced written about articles on various topics from Family, Austin Properties and The Beach Resort. This article was written on behalf of ® John West, owner of Specialists Real Estate. Let John help you find your ideal. Re Writer's top article generates over 1500000 views. to your Favourites.
Deborah Beeksma has sinced written about articles on various topics from Foreclosure Help, Real Estate. Do property descriptions and surveys seem incomprehensible? Don't be daunted by the apparent gibberish. Based on over 20 years practical experience, Deborah's online '