Friday, January 7, 2011

Land Survey...What are they for exactly?

I made an offer on a house yesterday and my Realtor said that the house is owned by a bank and as a part of what they want is a land survey done. The entire back yard is fenced in, so why do they insist on a land survey being done? What is the purpose of a land survey?


I work as a saleman for a national land surveying company in Ohio so I can tell you that a residential mortgage location survey is probably all your lender will require. If that is the case all states prices can vary. In Ohio a mortgage location survey generally costs $125. I think in Pa. the normal price is around $200 to $300. I doubt you will need anything other that this to satisfy your lender. If you end up needing a boundary survey done you could spend anywhere from $300 to $500. What state are you located? This will make a big difference in pricing. Ask you lender what type of survey they require and then call around for quotes. You will find most surveyors will be in the same price range for a mortgage location survey. The boundary survey prices will vary based on how busy each survey is. Keep in mind that not all surveyors do residential surveys.

A surveyor will establish that the land you are buying is the land you describe and, in your case, if the property extends to the boundary or beyond. After all you don't want to buy the place next door, do you?

A land survey is basically to see where the boundaries are. They are written in the deed but usually difficult to understand. I bought 16 acres and the deed states the property goes from this certain tree to a tree with two trunks and stuff like that. I have no idea where they started to say how many feet to the next marker. A surveyor will come out and be able to see exactly where your boundaries are. It could be to your benefit because the fence might not be on the property line. It also keeps neighbors from encroaching on your land. I really don't know how much surveys cost though.

A survey shows boundaries and easements on the property. A survey is required anytime you buy/sell/refinance or add a pool or make any changes to the property, i.e. additions and such.

Lenders and title insurance companies require a survey before they will get involved with the deal. And a smart buyer will too!

A land survey is required to plot out exactly what is being purchased as well as to see that any structures comply with the zoning laws and regulations for offset and setback and to ensure that you are not encroaching upon another person's property.

Encroachment can be a major issue when purchasing property. Among other things, you may discover that that fencing is on your neighbor's property, not yours. That would be an annoyance at most. But think of what you'd have to deal with if the HOUSE encroached on the neighbor's land! This HAS happened, by the way! Most of the time it's an apparently needless formality and expense, but if it reveals something significant you'll be VERY happy that it was all done by the book.

to make sure you are getting what you payed for,,exact measurements for property...to make sure you and your neighbour are free from saying i own this much and you own that much,,,if we ever get like china it'll ,matter///lol

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