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Survey or ILC When Buying or Selling Your Crested Butte Home

November 12, 2018 By Chris Kopf

Survey or ILC When Buying or Selling Your Crested Butte HomeSurvey or ILC When Buying or Selling Your Crested Butte Home

When you are buying or selling your Crested Butte home there are documents you must provide. A survey or ILC is one of those things you will need. They are very similar and you will usually only need one or the other. A survey is a document prepared by a licensed surveyor that shows the land that is being purchased. Whereas an ILC only shows the improvements on the property in relation to boundary/deed lines. There is some difference in price as well. Either way, you will need a Survey or ILC when buying or selling your Crested Butte home.

The Survey

Tips Regarding Crested Butte ILC or SurveyIt is a diagram with descriptive latitude/longitude coordinates, metes and bound descriptions. This system was brought to the US from England. It is a method that uses physical features of the local geography, along with directions and distances, to define and describe the boundaries of a parcel of land. Most importantly, it shows the boundaries of the property. The survey also shows the improvements and structures built on the property, as well as any easements, encroachments and setbacks.

It is a graphic representation of what the seller is selling. A survey is typically a required document by the title company to provide a title policy. A lender requires it to finance the purchase of a property. If there has been no survey, then there will be an exception in the policy. If a condo is being purchased, an existing condo plat map will suffice.

What Is an Improvement Location Certificate (ILC)?

An ILC is very similar to a survey and a licensed surveyor also prepares it. It is less expensive than a survey; currently the cost is approximately $400 for an ILC vs. approximately $800 for a survey in the Crested Butte market. In the State of Colorado, an ILC is an accepted document and can be used in order for the buyer and the mortgage and/or title companies to have some assurance that the improvements to a property are not encroaching into an easement or beyond the deed lines. Whichever you choose, you will need a Survey or ILC when buying or selling your Crested Butte home.

Who Pays for the Survey or ILC?

Using Comps When Buying or Selling Your Crested Butte Home

It is negotiable, but our local Crested Butte custom says the seller should provide the survey. If they have one in their files, they should produce it, and if not, then they should hire a surveyor to prepare one. The reasoning is that the seller’s obligation is to provide evidence of what they are selling. However, if there is a lender, then as a part of the loan approval process the lender will order a new survey or ILC directly. As a result, the buyer is effectively paying for the survey via the terms of their loan origination. 

Example of Problems Arising From Survey

Here’s an example of why getting a Survey or ILC when buying or selling your Crested Butte home is so important. My client was the buyer purchasing a home in historical downtown Crested Butte. It is important to know that it is prohibited to tear anything down in the Historic District. That means you cannot take down a building or a house, and especially not a shed. 

The ILC showed that the dream house was encroaching on the adjacent neighbor’s property by twelve inches. The front steps and covered porch were encroaching on the street right-of-way owned by the town as well. The conventional wisdom is that these encroachments are a big problem because the neighbor demand that twelve inches of the corner of the house be removed from his property. Furthermore, the town could demand that the front steps and porch of the house vacate the encroachment on the right-of-way.

Solving Problems

New Listing Under Contract 817 Elk Avenue Crested ButteWhile the results from this ILC were troubling, we managed to find a solution to everything. I met with the town officials and I had a Revocable License Agreement prepared for the sellers, which authorized or allowed the street encroachment. This document was signed by the sellers and approved by the town staff and city counsel, so the ROW encroachment was legally eliminated and recorded. I tracked down the neighbor and he was agreeable to a Boundary Line Agreement, but wanted the buyer to pay for his attorney’s fees. The end result was if the lender would have required this Boundary Line Agreement, the buyer would have paid the fees, and we would have had the neighbor sign. But since this was not a contingency to the loan, it was not completed, and we were able to successfully close and my client is protected by the Historical District overlay.

Survey or ILC When Buying or Selling Your Crested Butte Home Final Thoughts

Crested Butte Co Real Estate

If you would like to know more about surveys or ILCs, contact me.

I hope you see the level of detail and time and effort I put into this candid article Survey or ILC When Buying or Selling Your Crested Butte Home. I have become a Top Real Estate Agent in Crested Butte by helping my clients to make informed decisions.

This is representative of what you can expect from me as your agent.

If you’d like to use my knowledge and experience in Buying or Selling your Crested Butte home – call me.

Thanks,
Chris.

How can I help you with your Crested Butte Real Estate Needs?

Chris Kopf Author Real Estate AgentContact me to help you.  I have been in your shoes – as both a Second Home Buyer and Seller here in Crested Butte.

I have over 30 years of sales and marketing experience and am a top real estate agent in the mountain town of Crested Butte, Colorado representing affluent clients who are buying and selling their homes and properties.

If you are Buying your Crested Butte Home – click HERE to get a free copy of my Book The Complete Guide To BUYING Your Mountain Dream Home.

If you are Selling your Crested Butte Home – click HERE to get a free copy of my Book – The Complete Guide to SELLING Your Mountain Dream Home

To see Crested Butte Homes For Sale or search the MLS – visit ChrisKopf.com.

The Crested Butte Real Estate Market is very active. Click this link to see my monthly Crested Butte Real Estate Market Reports.

Chris Kopf
Broker / Owner
Global Luxury Property Specialist
Coldwell Banker Mountain Properties
chris@chriskopf.com
(970) 209-5405

Top Crested Butte Real Estate Agent

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Chris Kopf, Coldwell Banker Mountain Properties
305 6th Street
Crested Butte, CO 81224
  • Chris.Kopf@CBMP.com
  • (970) 209-5405

Testimonials

Bobby Nichols

"The first moment we met Chris, my wife and I knew he was all about what is happening in real estate sales in Crested Butte. He knows his job, the marketplace and the innovative ways to market your home in today's electronic internet space. A real professional that understood us and our needs in handling a very successful sales transaction. "

 
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:45:19-07:00
"The first moment we met Chris, my wife and I knew he was all about what is happening in real estate sales in Crested Butte. He knows his job, the marketplace and the innovative ways to market your home in today's electronic internet space. A real professional that understood us and our needs in handling a very successful sales transaction. "  
https://chriskopf.com/testimonials/bobby-nichols/

Jeff Hollings

Chris is outstanding! We recently bought a second home in Crested Butte and Chris did a great job throughout the whole process. He has a thorough understanding of the market and the benefits and drawbacks of various locations. He was very patient with us as our preferences evolved throughout the search. He gave us valuable information on which to negotiate the purchase. He had great follow-up during the inspection/closing process (when we were not in town) and made sure all of the commitments made by the seller were properly completed.
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:46:48-07:00
Chris is outstanding! We recently bought a second home in Crested Butte and Chris did a great job throughout the whole process. He has a thorough understanding of the market and the benefits and drawbacks of various locations. He was very patient with us as our preferences evolved throughout the search. He gave us valuable information on which to negotiate the purchase. He had great follow-up during the inspection/closing process (when we were not in town) and made sure all of the commitments made by the seller were properly completed.
https://chriskopf.com/testimonials/jeff-hollings/

James Brennan

This was our first experience trying to purchase additional land with hopes of building a home. Chris was tremendously helpful throughout the entire process and his professionalism showed.
Crested Butte Real Estate by Chris Kopf
2014-10-14T17:59:24-06:00
This was our first experience trying to purchase additional land with hopes of building a home. Chris was tremendously helpful throughout the entire process and his professionalism showed.
https://chriskopf.com/testimonials/james-brennan/

Jane Saltzman

Chris was terrific to work with. The house sold faster then I ever expected! He was particularly helpful for this second home owner that couldn't always get there to take care of house issues. Thank you Chris!!!
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:49:37-07:00
Chris was terrific to work with. The house sold faster then I ever expected! He was particularly helpful for this second home owner that couldn't always get there to take care of house issues. Thank you Chris!!!
https://chriskopf.com/testimonials/jane-saltzman/

Georges Lussier

The thought of a short sale was intimidating, but Chris made the experience very easy with lots of guidance from start to finish. I would highly recommend Chris for any Real Estate need buying or selling.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:40-06:00
The thought of a short sale was intimidating, but Chris made the experience very easy with lots of guidance from start to finish. I would highly recommend Chris for any Real Estate need buying or selling.
https://chriskopf.com/testimonials/georges-lussier/

Frank Stringer

Chris Kopf is a wonderful person to work with on any real estate matter you may have in Crested Butte. He is extremely knowledgeable of all elements of the Crested Butte area. He helped us recently to buy a new second home in Skyland and the entire experience was first class under Chris's guidance. I would highly recommend him to anyone who has a real estate need in Crested Butte.
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:51:04-07:00
Chris Kopf is a wonderful person to work with on any real estate matter you may have in Crested Butte. He is extremely knowledgeable of all elements of the Crested Butte area. He helped us recently to buy a new second home in Skyland and the entire experience was first class under Chris's guidance. I would highly recommend him to anyone who has a real estate need in Crested Butte.
https://chriskopf.com/testimonials/frank-stringer/

Paul & Julie Keesee

Chris was quite helpful in showing us homes in the area we were interested in and contacted us when new listings were available. We not only consider him our realtor but also a friend.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:59-06:00
Chris was quite helpful in showing us homes in the area we were interested in and contacted us when new listings were available. We not only consider him our realtor but also a friend.
https://chriskopf.com/testimonials/paul-julie-keesee/

Jim & Sandra Wickham

Chris' patience and persistence paid off for us in finding the right house for the right price. We would highly recommend Chris to any potential buyer.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:06:18-06:00
Chris' patience and persistence paid off for us in finding the right house for the right price. We would highly recommend Chris to any potential buyer.
https://chriskopf.com/testimonials/jim-sandra-wickham/

Tom & Mary Aton

It was a great experience working with Chris, after showing me what I thought I wanted, he advised me of the pros and cons on the different condos and found one that I am thrilled with.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:06:31-06:00
It was a great experience working with Chris, after showing me what I thought I wanted, he advised me of the pros and cons on the different condos and found one that I am thrilled with.
https://chriskopf.com/testimonials/tom-mary-aton/

Dan Aquaviva

This agent has a very strong knowledge of the local area. He was very helpful in screening properties for potential purchase.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:26-06:00
This agent has a very strong knowledge of the local area. He was very helpful in screening properties for potential purchase.
https://chriskopf.com/testimonials/dan-aquaviva/
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Crested Butte Real Estate by Chris Kopf

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