Property Surveys
Often known as a Mortgage Inspection Report, Mortgage Inspection Plat, or a Plat, a survey of your land obtained by a Licensed Surveyor is a necessity if you are planning on building on your property. Why is this so important that we made a post specifically about having one of these? Let’s read on.
What is a survey?
There are many different surveys that detail different things about a piece of land. A Property Survey, completed at the transfer of ownership, typically shows what structures are present, important measurements including the property/boundary lines, location of the house from the property line, and easements. The most important of these is the boundary lines which represent what you tangibly obtaining in the purchase.
The deed usually has a written description of the boundaries, but it is usually very difficult to understand if you don’t work with them a lot.
Why is this survey important?
A property survey is so very important since it graphically shows what the deed states in words. It’s much easier to visually understand what you will own. Think of it like a big snap shot of your land and property.
Lastly, this document is not only useful a the change of ownership but also for future uses like renovating the house/building, changing landscaping, or installing a fence at the property line.
Hold onto this document with your other important records. Having these surveys done out of pocket will cost you anywhere from $1,000 - $5,000 - you’ll thank yourself by taking care of it.
What types of surveys are there?
There are seven types of surveys out there, and depending on your project, you will need some of them done when altering your building or land.
Boundary Survey - As mentioned above, these are used to locate the corners and boundary lines of a parcel of land. This type of survey involves both record and field research, including measurements and computations needed to set boundary lines in accordance with applicable state laws. A boundary survey may also involve locating easement lines and encroachments.
Topographic Survey - This survey locates both natural and man-made topographic features on a parcel of land. Hills, valleys, contours, trees, streams, ponds, elevations, buildings, utilities, and fences. These are obtained through Licensed Surveyors using aerial photography and ground field methods. This survey is not limited to property boundaries, so you will be able to see more of the landscape surrounding your site.
Site Planning Survey - These are usually required when planning a development, but they contain elements of both the boundary and topographic surveys for site planning. This survey is used to plan design improvements and developments before building begins.
Subdivision Survey - This type of survey is used to divide a parcel of land into smaller tracts, lots, or estates. Streets and drainage is designed based off of this as well. This survey is also known as a partition survey.
Location Survey - This is similar to a boundary survey, but just provides additional information on the location of interior improvements and used for the zoning permit or a loan application.
Construction Survey - Construction Surveys require staking out structures located on the property, including utilities, roads, buildings, and walls. This provides contractors and clients with directions for implementing the improvements shown on the plans. This survey also helps with grading .
ALTA/ACSM Survey - The purpose of this type of survey is to provide a title company and/or lender with necessary location and survey data to issue an American Land Title Association or Extended Coverage Title Insurance policy. An ALTA/ACSM survey usually shown the relationship between an existing improvement on a particular parcel of land relative to the boundaries set forth in the property’s deed. This survey is the most comprehensive survey because it covers all of the features and characteristics of the property.
You Need One
If you are building new or adding on, you need a property survey. Before you close, make sure this has been done. It will save you time and money in the end and it’s not something everyone will tell you about.