Real Estate Closings

WHY YOU NEED A SURVEY

A few years ago, lenders usually required a survey of the property as a requirement of obtaining the loan. Today, most lenders no longer require the purchaser to get a survey. However, even if your lender does not require it, you may want to purchase a survey because of the many benefits it offers.

A survey is a map of your property, showing precisely where your house lies within the property boundaries, as well as easements, other encumbrances, set back lines, and building lines. A survey will reveal whether the property is in violation of any county requirements or PUD restrictions and whether there are any encroachments on the property. Surveys are prepared by professional, licensed surveyors pursuant to industry standards.

Purchasers sometimes mistakenly believe that since they are buying new construction there will not be any encroachment issues. Builders often unwittingly create driveway encroachments during construction that are revealed by a survey. Building setback violations are also frequently caused by builders and exposed with a survey.

Even if your subdivision plat is recorded at the county courthouse, you still need a survey. The subdivision plat only shows the boundary lines of the lots and the placement of setbacks and easements. It does not display the boundary lines of your house on your lot.

Purchasers of fee simple townhouses sometimes incorrectly assume that a survey is not necessary. Remember that townhouses can just as easily be built in violation of setback requirements or encroaching upon easements.

It is also important to note that a survey conducted for the seller at the time the seller purchased the property is not a protection for a subsequent purchaser. A purchaser must have his or her own survey conducted.

If you are planning to purchase owner's title insurance, your policy will offer more extensive coverage if you have a survey. Generally, title insurance companies do not insure against matters that would be disclosed on a survey. If you purchase a survey, however, your title insurance company will usually insure that the survey is correct.

If you want a survey prepared, you should make arrangements for the survey with our office immediately so that the survey can be completed and reviewed before your closing. This allows time to address any problems, pursuant to your contract with the seller, a survey might reveal.

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The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.

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