Whether you are buying a new home or a new property you plan to build on, it is essential to get a land survey done. These are often required before purchasing by a lender or a title company before they approve your mortgage application or issue title insurance.
How To Get a Survey
If a survey on the property has been done in the past, you may not need to get one done. However, if you go through a land development process, you will want to get one anyway. There are two different ways you could get your property surveyed. The first is through a title company. They may send a surveyor out before purchasing the property and will mostly put a surveyor’s cost in the closing costs. Every state has its own laws, and depending on the state, the surveyor’s fee will either fall on the homebuyer or the seller.
The second way to get a survey done is by arranging it yourself. If you are getting your property surveyed yourself, you will want to ensure that you do your research. Ask local real estate agents or title companies for recommendations. Once you find a surveyor, ensure they are correctly licensed and insured.
Why a Survey is Important
There are many reasons to get a property survey done, but the main reason is so the lender, and title company know that the property or home you are purchasing is true to its portrayal. Suppose you are purchasing a property with plans to build on it. In that case, a property survey will ensure that anything you build will be on your property so you can avoid any altercations from surrounding neighbors or business owners, especially if you plan to put a fence around your property. You do not want to put up a fence only to discover it is on your neighbor’s property.
When purchasing a new property or home, make sure you get a property survey done. They are incredibly important, especially if you plan to build on the land.