Far Out Friday: Million-dollar home built on wrong lot

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Home insurance is a no-brainer – but would anyone think to obtain coverage for building a million-dollar home with an ocean view on the wrong lot?

A Florida builder is trying to figure out what to do after constructing a million-dollar, ocean-view home in Florida on the wrong lot, according to Reuters.

A million-dollar error that would give any E&O underwriter nightmares.

The mistake occurred after two state-certified surveyors on the job separately marked the wrong property, said Carl Laundrie, spokesman for Flagler County on the Atlantic Coast north of Daytona Beach, conceding that there were few landmarks in the new Hammock Dunes subdivision that could have helped someone catch the error.

“There is no giant oak tree on one corner of the lot so you would say, ‘Okay, this must be the lot,’” Laundrie told Reuters. “This particular piece of land is basically in a field back behind the dune.”

The 5,300-square-foot (492-sq-meter) house, which was completed in March, includes five bedrooms, five-and-a-half bathrooms, a theater, game room and swimming pool.

Flagler County Property Appraiser Jay Gardner said the mistake was discovered in September by a third surveyor working in the neighborhood.

The builder, Robbie Richmond of Keystone Homes, who the real estate website described as one of the area's most respected builders, did not return a call from Reuters for comment.

  • AnthonyC. on 2014-10-17 3:19:04 PM

    ...a more appropriate ending to the story could have read "the builder, Robbie Richmond of Keystone Homes, who 'was' the area's most respected builder, did not return a call from Reuters for comment..."


  • Arnod Molder on 2014-10-17 3:22:39 PM

    This is not that unusual and happened even in Toronto. Some time ago, I arranged a construction mortgage for a borrower on the Scarborough bluffs who then engaged his own builder. The builder staked out the footprint by encroaching the neighbors lot by 4ft.
    Upon completion, the nice neighbor insisted on shaving the 4ft off the house which essentially ruined it.

  • Yasmin on 2014-10-17 3:30:43 PM

    title insurance would cover this mess financially but I don't think that this fixes all

  • Yasmin on 2014-10-17 3:30:44 PM

    title insurance would cover this mess financially but I don't think that this fixes all

  • Yasmin on 2014-10-17 3:30:45 PM

    title insurance would cover this mess financially but I don't think that this fixes all

  • Yasmin on 2014-10-17 3:30:47 PM

    title insurance would cover this mess financially but I don't think that this fixes all

  • Leo Bradshaw on 2014-10-17 5:07:09 PM

    This seems to be the surveyors mistake. They staked out the property so they made the mistake and need to correct it.

  • Kuldip S Panesar Homeland Mortgage Corp. on 2014-10-20 2:23:43 PM

    Title insurance have to cover this financial loss.They can also sue the surveyors for their error !

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