Hi all,
A hypothetical sequence of events that can happen
1. Surveyor surveys an estate lot to say 400 sq.m and puts pegs as measurement
2. A buyer puts an offer on that land thinking it will be 400 sq.m and puts a deposit.
3. Land titles, bank values it, loan settles, land deal done.
4. Builder moves in, puts slab and commences construction.
5. Halfway through they determine something is not matching up.
6*. They call another surveyor who measures it again and it comes short to say only 385 sq.m.
7. Neighbouring houses are already built, its too late to move boundaries.
(*Somewhere those pegs got moved by someone)
Buyer is gutted and feels duped.
Is there a step which is missing in this whole sequence, which ensures that this shouldn't happen.
If yes, who does it and when?
Cheers