Plat vs. Survey: What’s the Difference?
Posted by Hank Miller on
When buying a home, buyers often hear the terms plat and survey used as if they mean the same thing. They do not. The majority of real estate agents are similarly ignorant about the differences, unable to explain each and how they can be used by a home buyer. Understanding the difference can help home buyers avoid surprises and better protect themselves before closing.
Plat vs. Survey: What’s the Difference?
A plat is a recorded map that shows how a lot or subdivision is laid out on paper. It may show lot lines, dimensions, easements, setbacks, streets, and common areas. A survey is a property-specific drawing prepared by a licensed surveyor based on actual field measurements. It shows the property as it exists on the ground, including boundary…
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Institutional investors are not the enemy of traditional homebuyers. They do not compete for inventory; traditional homebuyers cannot buy what real estate investors buy. 89.6% of single-family rentals are held by “mom-and-pop” landlords who own between 1 and 5 rental properties. The media continues to do an outstanding job of misrepresenting what a “real estate investor” is, conflating “institutional investors” with the “mom and pop” investor. It makes for fantastic click bait given the public’s 10 second attention span. The MSM should examine the “rules” traditional homebuyers are subject to as well as what those in the lower price tier are up against. It will then be obvious; there is no competition. In fact, institutional investors were net SELLERS…