Other than a title report, there may be nothing more fundamental to a real estate purchase than a proper survey. Moreover, while a title commitment will tell the purchaser what is in the public record, it will not show encroachments affecting the property, whether there is adequate access, or the location of easements, just to name a few.
Here are Five Reasons to Purchase a Survey:
- Undisclosed Rights and Easements – A survey will show physical evidence of the rights of others to use your property for access, parking, utilities, and other situations.
- Undiscovered Encroachments – A survey may be the only way to tell if a third party holds a claim to part of your property because their improvements such as a garage, fence, or swimming pool. If there is an encroachment on the property you are purchasing a surveywould identify these encroachments, allowing the purchaser to properly evaluate what is being purchased.
- House Built on Incorrect Lot – A survey provides peace of mind by showing the exact location of the house you are buying.
- Size of the Property – A survey shows the exact dimensions of the property’s boundary lines and how much land is included within those lines.
- Adding on in the Future – Many residential platted lots have building restrictions. If you are thinking of adding on in the future, a survey will help you determine if the property is right for both your current and future plans.
In addition, a survey is generally required to delete the standard exception for matters of survey from an owner’s policy of title insurance.