What Is a Property Survey?
What if you purchased a home, and after moving in, you uncovered severe structural problems? What if you bought a multi-unit building and didn’t know it had code violations?
If you have never had a property survey, you could miss out on uncovering serious problems with your investment. Don’t wait until you have invested thousands of dollars only to discover you purchased a property riddled with issues and hidden code violations.
So what is a property survey? What should you look for when it comes to a property survey? Keep reading as we answer all of your questions about it.
What Does a Property Survey Reveal?
A property survey is an important document that provides a detailed representation of the boundaries of a particular property. It also indicates any improvements that have been made to it.
This data reveals essential information to the owner. This ranges from the total acreage of the land to the waterways, fences, and other markers that indicate the boundaries of the land. Additionally, it reveals the exact location of any buildings and educational, religious, and recreational landmarks found on the property.
How Does a Property Survey Benefit You?
When buying a house, a property survey is necessary to ensure a clean title and identify discrepancies before closing. This will protect the buyer’s rights and avoid disputes later down the line.
It can also provide peace of mind for the landowner. Any potential disputes due to boundary lines or rights can be quickly resolved by referencing this document. All in all, a property survey serves as a valuable tool to protect a buyer’s interest and ensure a successful transaction.
What Types of Surveys Exist for Properties?
In general, three main types of property surveys exist. These include boundary surveys, topographical surveys, and ALTA surveys.
A boundary survey will provide accurate measurements of the boundaries of a property. This includes the property’s perimeter and the legal lines of separation between any other parcels that border the subject parcel.
A topographic survey will display the characteristics of a property. It indicates the property’s geographical features, man-made features, vegetation, and contours.
A Property Survey Is Invaluable
A property survey gives a detailed overview of the land. Knowing about the property’s boundaries, features, size, and potential encroachments is invaluable as it prevents disputes in the future. Property surveying can ensure that everyone knows what is theirs and their legal rights.
If you are considering buying a property, investigate if a land survey has taken place or if one should be done. With a survey in hand, any actions taken on the land afterward can be confidently achieved. Don’t forget knowledge is power!
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