Titles, Surveyors, Property Lines

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We have an interesting twist on a new property we are negotiating. The owner has a home sitting on roughly 2 acres which for the most part only 1 acre makes up what would be considered the yard. The remaining land has trees, a barn and some livestock. As a result, the owner would like to sell the home with the land around the home (1 acre) but have a surveyor create a new property line so that the two are now individual plots. 

Now, to further complicate things he does not want to do this in advance of selling the property. In short, he wants to ensure that it is sold before he has the property lines redrawn. 

Lastly, we have not determined if we will keep this property or wholesale it to one of the investors we work with.

Now, my real question(s) are:

1) How does this impact the title to the home? Needless to say it will change from 2 acres to 1 acre, but I have no idea how long that process takes.

2) Will this create additional challenges with the closing?

3) What other factors should we be considering in this process?

While this is a new twist I don't think that it is such that we should be running away from the deal, this is just something we have never come up before. 

Thanks in advance,

Glenn