T-47 Affidavit

Q: We are trying to use a seller's existing survey on a contract for sale. The buyer's agent is saying we need a signed T-47 affidavit at the beginning of escrow. I thought the T-47 could be signed on the day of closing. What is the best way to handle the signing time of the T-47?

A: A T-47, or survey affidavit, will be signed at closing. The technicality comes on the Earnest Money Contract. It states that within the time frame agreed upon that the seller will submit a copy of the prior survey along with the survey affidavit. If the survey affidavit isn't supplied along with the survey in the time allotted does that allow the buyer a way out of the contract if they need it? If it is signed but not notarized, is that an out for the buyer? These are the questions that we don't have answers to and won't until they get presented before a court of law. I always ask agents, is your seller going to be ok if the buyer is able to walk the contract with the earnest money because this item isn't submitted within the prescribed timeframe and in the proper manner and format?