What is a Property Survey and Why Do I Need One?
Are you looking to purchase a home or property to build one on? It’s critical that you have a property survey completed before you sign anything on the dotted line. Imagine building a beautiful brand new home and then finding out it’s on your neighbor’s property. Avoid this mistake and many more by having a survey completed. In this article, we’ll discuss:
- What is a Property Survey?
- Why and when you should have your property surveyed
- Why this is important
What is a Property Survey?
To put it simply, a property survey is conducted by a professional property surveyor who will begin by researching the history of the land in question. They’ll also look into the deed and all legal matters. After this background work is completed, the surveyor will come to the property and create a sort of map of the land. This map includes boundaries, any existing buildings, and all other elements on the property. You’ll also be given a written description of the property, which includes things like:
- Boundary lines
- Address of the property
- Adjacent properties
- Allowable Improvements
A property survey on average will cost you anywhere from $250-$1000. If you’re buying a property, check with your realtor about whether you or the seller are responsible for the cost. It’s also advised that you request quotes from several surveying companies before committing to a price.There are several reasons a person needs a property survey, but what is a property survey and why does anyone need one? Find out now! #propertysurvey
3 Reasons for a Property Survey
So now that we have a background on what a property survey is, let’s discuss reasons for having one.
Buying a Home
Mortgage companies and/or title companies generally require a prsurvey to be completed before approving you. This rule is put in place for your protection as well as theirs. There have been far too many instances of people thinking they own a piece of land when in fact they don’t. They build a home on this land and come to find out down the road that this land belongs to their neighbor.
Now, what happens? Technically the homeowner owns the building, but the neighbor owns the property it’s built on. The only solution is to take it to court. Avoid all of this by having a survey completed.
If your addition is within the confines of your already existing home i.e. a basement remodel, you don’t need to have a survey completed. However, if the addition is adding to the exterior of your home, then you made need to hire a surveyor. They will inform you of things like how close you can build to the property line or fence.
They’ll also let you know if there are any height restrictions in your area. Do you plan to add a fence, swimming pool, or gardening shed? Be sure to check that they are within your property lines before beginning construction. It would be a shame to build a beautiful swimming pool only to find out the land doesn’t belong to you.
Once you complete an addition, you can have it inspected by a surveyor. They will certify that all changes are not in violation of any restrictions or laws. If there are any discrepancies with your additions, your surveyor will give you a notice detailing what needs to change
Property Line Disputes
Do you have a feeling your neighbor is encroaching on your property line? Property line disputes are one of the most common reasons to have a survey completed. Before making any changes like building a fence, be sure to know the exact bounds of your property. More often than you would think, a survey reveals that neighbors have using incorrect property lines. Your ability to have it all squared away is a gift not only to you but also to your neighbor. They likely had no idea they were doing anything wrong in the first place.
Why is a Property Survey Important?
To summarize, a property survey gives the potential buyer or homeowner all of the information necessary to make informed decisions. It’s an added measure of security before making what could be one of the biggest purchases of your life. Just like hiring a home inspector, you will not be wasting your time by having a survey completed. Take the time to find a good, reputable company, and protect your property today.
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About the Author
Top Wellington Realtor, Michelle Gibson, wrote: “What is a Property Survey and Why Do I Need One?”
Michelle has been specializing in residential real estate since 2001 throughout Wellington Florida and the surrounding area. Whether you’re looking to buy, sell or rent she will guide you through the entire real estate transaction. If you’re ready to put Michelle’s knowledge and expertise to work for you call or e-mail her today.
Areas of service include Wellington, Lake Worth, Royal Palm Beach, Boynton Beach, West Palm Beach, Loxahatchee, Greenacres, and more.