Property surveys are essential to measuring and defining the property’s boundary precisely. Understanding them becomes even more vital if you plan to buy, sell, or develop the land. They save time and money. In this blog, we will provide you with a detailed overview of property surveys and how to determine which survey is best. Let’s begin with the basic definition and then move toward the types and how they work.
What is a Property Survey?
A property survey, also known as a land survey, is a detailed report from a licensed surveyor that includes the property’s features and defines its physical boundaries. The report is legal evidence of no dispute and liability with the legalities.
These surveys also prevent possible issues like illegal encroachment or zoning violations, closing all loopholes that can lead to inconvenience in the future.
Why Do You Need Property Surveys?
Regardless of whether you are buying a piece of land or even constructing a house, land survey is very important because it can save you from falling at the hands of the law. Material issues like property boundary, trespassing or zoning violations may result to expensive legal suits or even spoil the deal of a lifetime in real estate. A professional survey can put one’s mind at ease knowing the location and dimensions of a property is well established and well mapped out.
Also Read: Latest File Rates & Market Overview 2024: Exclusive Insights
6 Types of Property Surveys
The surveys vary according to the nature and purpose of property transactions. The surveyor will guide you in deciding which survey suits your property needs and situation best.
-
Boundary Survey
Most commonly used, this survey is used for establishing the exact property lines. While buying or selling the property, it is essential to get the boundary survey done to avoid any disputes and inconvenience in the future. This survey serves best in identifying and setting the property corners.
Best for: Boundary surveys are best suitable for residential properties or fencing projects. Moreover, you can utilize this survey for resolving property line disputes.
2. Location Survey
The location survey is similar to the boundary survey but also includes improvements like fences, buildings, driveways and sheds. Besides, it is used for ensuring zoning compliance and mortgage lending purposes.
Best for: Minor improvements, Mortgage applications, and zoning approvals.
3. Topographic Survey
It identifies the contours and elevation of the land. Topographic survey includes the man-made and natural features on the land including buildings, trees, streams, etc. This survey is significant in large-scale property development and planning projects and land development.
Best for: Large-scale construction projects, landscape design, and land development.
4. ALTA/NSPS Land Title Survey
American Land Title Association (ALTA) is one of the most detailed surveys. Usually, lenders require this survey for commercial property transaction purposes. The survey includes location, boundary, and topographic surveys. In addition, it also includes right of way, easements, and other legal details.
Best for: large-scale property purchases, commercial real estate transactions, and high-risk land development.
5. Site Planning Survey
This survey is a blend of topographic surveys and elements of boundary. Best used for designing improvements like roads, buildings, utilities, etc. Site planning survey provides comprehensive data on both vertical and horizontal dimensions.
Best for: Engineers, architects, developers working on infrastructure development projects and new constructions.
6. Subdivision Survey
A subdivision survey, as the name indicates, is typically used when a large track of land is divided into small lots. The survey helps defining the boundaries of each lot of land and ensure their compliance with zoning & regulatory authorities.
Best for: Large-scale development projects for both commercial and residential purposes.
What to Consider While Choosing Property Surveys
Here are the factors you should consider while choosing a survey;
- Purpose of the survey
- Type of property
- Local regulations
- Survey costs
Wrap Up
When it comes to exercise property surveys, it is vital particularly when you are planning to purchase or even build a house and want to protect yourself from being defrauded by the law. A professional survey can actually help one to relax and be confident knowing the place and size of property is well identifiable and well documented. All you should consider is the purpose you are conducting the survey for and the type of property. Besides the survey should comply with the legal regulations, and last but not the least, is the affordability of survey cost for you.
