Here’s something you won’t hear from most real estate investors: sometimes we mess up. I mean, really mess up. And while it’s not fun to admit, I’ve learned that the best lessons often come from the worst mistakes. So today, I’m pulling back the curtain and sharing a few of our biggest goof-ups—specifically about surveys and why skipping one can cost you big time.
Horror Story #1: The House We Half-Owned
Years ago, we bought what looked like a normal house on a regular lot. Everything seemed fine—until we looked closer. Turns out, the house was sitting on two separate lots, and it straddled the line between them. The problem? We had only bought one of the lots. That meant we literally owned half a house.
Thankfully, we had a great relationship with the seller. I picked up the phone, explained the situation, and they were kind enough to sign over the other lot. Crisis averted—but it could have been a disaster.
Horror Story #2: The Shop That Wasn’t Ours
In another deal, we bought a house that had a nice shop next to it. I knew it sat on two separate lots, and I told the title company about it at closing. But when the legal description was drawn up, they left off the second lot. That meant we bought the house—but not the shop!
Again, we got lucky. The seller was reasonable and signed the second lot over once we realized the mistake. But let me tell you, it’s a sinking feeling to find out you might not own everything you thought you did.
Horror Story #3: Surprise! There’s Another House
One more for the books: we bought a house on a corner lot. I was in a hurry and didn’t pay close enough attention. After the deal closed, I realized there was a small house behind the main house—completely hidden from the street. Years ago, someone had split the lot, and now two houses were sitting back-to-back on the same property.
The problem? That back house blocked utility access for the property we had just bought. Thankfully, I knew the real estate investor who owned the small house and was able to buy it. But if I hadn’t had that connection, I would’ve been in a real mess.
The Moral of the Story
Here’s what I’ve learned from these “oops” moments:
- Treat people right. Whether you’re buying, selling, or just making connections, being honest and respectful goes a long way. When we needed a favor, the relationships we had built saved us.
- Slow down. Real estate moves fast, but that doesn’t mean you should rush. Take time to double-check the legal description, the survey, and even the property lines.
- When in doubt, get a survey! A good survey can show you lot boundaries, easements, improvements, and more. It’s a small cost compared to the giant headache of finding out you don’t own what you think you do.
Learn from our mistakes so you don’t have to make them yourself! If you have a house to sell, on one lot, two lots, or no lots, give us a call at 806-359-7653.