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

Far out Friday: Million-dollar home built on wrong lot | Insurance Business

Far out Friday: Million-dollar home built on wrong lot
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?
An American 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-metre) house, which was completed in March, includes five bedrooms, five-and-a-half bathrooms, a theatre, 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 neighbourhood.
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.