Wednesday, September 28, 2011

Lay of the Land...Why a Survey Matters More than Ever!

As a personal rule of thumb and as an Allen Tate company policy we ALWAYS recommend a property survey when purchasing a home or vacant land.  I say that up front because so many buyers choose not to have a survey performed when buying.  We see the choice made, not to have a full survey frequently in platted subdivisions or existing homes where sellers sometimes provide the new buyer with an old survey, thus luring the buyer into a sense of security which may not always be accurate.

To start, let's define what a survey is.  According to dictionary.com a survey is to determine the exact form, boundaries, position, extent, etc., of (a tract of land, section of a country, etc.) by linear and angular measurements and the application of the principles of geometry and trigonometry.

Now, this may sound complicated because it is.  Eye-balling corners or assuming that tree lines are boundaries and that fencing setbacks are correct, is not something that a lay-person can perform with any semblance of accuracy.  It takes a trained eye to determine boundaries by looking at historical metes and bounds references, old irons and landmarks and other varying documentation and topography. 

Recently, surveys have "saved" several of  my clients by providing additional information that was not discovered during the abstract research process that the attorney performs for title, by identifying ownership and therefore maintenance obligations of fencing and by determining appropriate setbacks for desired future improvements to the property. 

In the grand scheme of things, surveys are a small price to pay in order to make sure you are getting what you bargained for.  Not to mention the actual copy of the survey can be attached to or referenced in the new deed in order to insure additional confidence for yourself and future buyers.

So don't skimp...buying real estate is one of, if not the largest investment, you will ever make.  Make sure you have a survey every time you buy so you DO get caught holding the "flag"...

Happy House Hunting!

Brooke

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