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There is a stake with a pink ribbon on it in the middle of my new yard?

What is it? There are a couple of pink flags in line with it. This is a foreclosure property.

Could be property line (or setback), could be a utility location, could be a grade stake. Pink is usually for layout of some kind. In general, water lines are blue, gas-yellow, phone-orange, electricity-red. It was placed by a surveyor for some reason. See if you can read what is written on the stake. Often that will give an indication as to what it's for. Hope this helps.

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