Survey for Your Home and Why You Need One

A survey is a map of the perimeter of the property. This is important because it lets the buyer and the lender know whether there are any encroachments. An encroachment is something like a neighbor’s fence that was built on your property.

This also will tell you whether there are any easements that utility companies have deemed that you cannot build on. Having a survey on a property can help make things more accurate and more aware of the border lines of your property to build on. Also, you may not want to buy a property with an encroachment.

With a survey, the surveyor will examine and record the area of the property and features to construct a map and plan or description of the area. A survey valuation can take only a few hours to complete, but to complete the entire survey it can take from two days to about a week to finish the final and complete survey of the property. The average cost of a survey on a property or home can range from $200 to $800. However, it all depends on the size of the property.

The benefits of getting a survey done would be having better control of your property. You will also have existing improvements. This will allow and establish your zoning classification as well. There can possibly be an encroachment that would prevent your ability to have your property expand even more.
Also if you have a proper surveyor and he accurately does his job on surveying the property and comes out with an outcome that you have more land than you were given before he did the survey. There could also be a property corner missing. A land property survey will protect your investment as well. The survey can reveal exact property dimensions in the land or property you are interested in doing a survey on.

Getting a survey is generally a requirement of the lender in order for you to obtain financing.

Join our Facebook group at facebook.com/groups/ttalending/ to hear the TRUTH about lending.

Related Posts

Compare

Enter your keyword