Survey the risks of ignoring the survey

Buried in the standard Colorado Real Estate Commission-approved form “Contracts to Buy and Sell Real Estate” are provisions dealing with surveys.

Boring, right?

However, particularly in transactions involving high-value vacant, commercial or even residential properties, the importance of the survey provisions should not be underestimated.  Buyers and sellers of real estate who lack proper surveys can face unfortunate, avoidable and costly surprises, far exceeding the relatively small cost of the survey.

One example of such a costly surprise, involving property in Rhode Island, has been in the national news recently.  In that case, the Rose Nulman Park Foundation owned a 4.5-acre parcel of…