A property survey is a document that shows your property lines. Property lines may include land, structure, and features you legally own, the ground or not. A surveyor will research the property and study history, which may include a title search. A title search will make sure that there is no discrepancy with the land. All property surveys start with research on differences. Then, they ketch out the land, boundary lines, their respective dimensions, and all the elements that make up the property. Surveys can also include the property’s past improvements, utilities, topography, and more.
After the survey, they will provide you with a handy piece of paper that will include a description of the property, address, location of buildings, and adjacent properties. This paper will be a visual aid for the home buyer. This paper will clear up the questions about your boundaries.
Why is a Property Survey Important?
Property surveys are essential for sales not only for the potential buyer but also for a mortgage lender. Property surveys help to add transparency. A proper home survey can save you from making costly mistakes. It is important to complete diligence when it comes to a property survey.
Here are a few property types and cases where transactions might change the direction from better to worse –
The property has some hazards.
An upfront property survey can save a seller from getting into a deal that later unravels because of unknown factors. If the underground water channel below the building collapses, the property can be at risk. So, if the seller knows the situation, he can have the geotechnical engineers evaluate the stability of the site and can take the recommendations.
Boundary confirmation
The size recorded should equal the actual property size, but neighbors accidentally construct over your boundary lines. The survey can confirm the boundaries and eliminate the discrepancy between land deeds and current limitations. Sometimes, homeowners face encroachment and unpleasant prospects.
Proper noting of the easement
Easements on property give the legal right to trespass. The owner should have an easement on a property to access the utility line. Easements can become an issue when you don’t document your property properly. No home will sell without a correct deed.
Property addition
To avoid issues like boundary encroachments, you have a property survey. If you are planning to modify or you might require. The home addition can be a general home, garage, new building, some major construction, planting of trees, fence building, adding a patio or deck, etc.
A property survey will show you a clear picture of your property. With a proper view, you can plan an expansion of your house, and you will be aware that you are not pushing others’ property or digging a hole.
A property survey helps you plan better for all the improvements you want to make.
