Fences Aren’t Always Accurate
When you find a home and your offer is accepted, it’s time to get excited but also get to work. First, you’ll want to carry out your due diligence. Due diligence allows you to learn exactly the state of the property is that you plan to buy. It also helps prepare you for what might happen next. It’s time for appraisals, inspections, and a property survey. A property survey is essential to know the exact boundaries of your property.
A property survey isn’t mandatory, and your lender may not require one. However, most estate experts recommend it. Having this information could become very important after you become the owner of the property.
What is a Property Survey?
All property surveys begin with research into legal of the property. Then, the surveyor visits the property and sketches out the land, its boundaries, and different elements that make up the property. This is referred to as the fieldwork. After surveying, the surveyor provides a map detailing the property’s legal boundaries. The survey will also include a written description of the property including the street address, the location of adjacent properties, and any improvements a homeowner can make to the land.
A property survey also defines things like rights-of-way and easements. There is further detail relating to what to do with shared yards or driveways, or if your neighbor has a right of way to the street between your homes.
Due Diligence and a Property Survey
Your property survey tells you about the property you have contracted to purchase and any stipulations. It’s still important to complete your due diligence when it comes to a property survey. First, get multiple quotes from surveyor companies, and pick the one that works best for you.
It’s also a good idea to attend the property survey. You’ll learn more about the land you might buy and be the first to know about any potential problems. Finally, follow up with any questions once you’ve seen the property survey.
Why a Property Survey is Important
A property survey may seem simple and not a big deal, a property survey may save you from a costly mistake, like building a home or a fence on someone else’s land. You may also find that a neighbor’s structures go over the property line. Think of all the complication that would arise without knowing this information?
In most situations, the property survey lines up as expected. It’s one more part of being an informed buyer. The attorneys at Moore & Alphin recommend a survey to ensure fences and anything else are truly accurate. If you have questions about the findings, contact the firm to see what next steps you should take.