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Why should I get an ILC?
Why should I get an ILC? Or why not?
Related post: ILC versus a Survey, what’s the difference?
Here’s some of the top reasons why you should get an ILC (Improvement Location Certificate)
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You could identify property line violations
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You may find out the fence is not the property line
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You could find out that all or a portion of the driveway is on some one else’s property
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It will also tell you where the easement are located
I used to think that ILC’s and surveys were only for rural properties. Wrong. Even lots in the middle of a subdivision are not immune to “hidden problems” ; including :
- Encroachments
- Easements
- Other adverse conditions
Why should I get an ILC before completing a purchase of a house?
Encroachments and infringements can especially cause problems that you may want to have corrected prior to closing on your purchase (such as a neighbor’s shed on the property, fence on the wrong property, driveway on both properties).
On the other hand, when a ILC is performed prior to closing, the buyer can require the seller to address the issue. And if it is an irresolvable issue, the buyer can void the contact as long as it is within the dates on Colorado Contract to Buy/Sell. Without a survey or an ILC, the buyer assumes the risk of these potential survey defects.
Do Colorado Real Estate Contracts require a survey or an ILC?
The Colorado Real Estate contract doesn’t require a buyer to get an ILC or a Survey, but it certainly gives them the option as well as it gives choices on who is responsible for the payment. Here’s the applicable section of the Colorado Buy/Sell contract.
If you enjoyed reading this article, why not Kathy (719-287-1049) KTorline@msn.com
