Description
Viza-Audit is an inexpensive / rapid audit of a property description (metes and bounds) that translates text into a picture. The audit simply takes the information provided by the bank(s) and creates a line drawing from that information. The line drawing then is placed relatively (the approximate not absolute location) on satellite imagery of the area. A picture of what you have.
Viza-Audit is also a Risk Reduction / Audit product to answer a few basic questions: 1) Does the written property description form a closed polygon, 2) Where are the less and excepts located within the polygon, 3) Where are any easements located, 4) Is the polygon where they think it should be located and are their improvements located on the property and 5) If any errors are discovered, determine if they need a SURVEY or can the attorney correct the issue before closing the loan, thereby, saving the customer considerable money.
If the legal description is incorrect it can be very expensive to the bank at the time of foreclosure and/or eliminate the opportunity to foreclose. The legal is the foundation to the loan. If it is wrong, the loan amount, LTV and loan policy are affected. Title insurance does not generally cover this unless the exemption is removed from Schedule B. TRY IT-YOU WILL LIKE IT!!!