What is a Survey?

A Survey in real estate refers to the process of measuring and mapping a parcel of land to determine its boundaries, dimensions, and physical features. Surveys are conducted by licensed surveyors using specialized equipment and techniques to accurately determine the legal description of a property and identify any encroachments, easements, or other issues that may affect its ownership or use. The survey results are documented in a survey plat or map, which is typically recorded with the local government and may be required by lenders, title insurers, and property buyers as part of the due diligence process in real estate transactions.

Surveys are an essential component of real estate transactions because they provide critical information about the property's boundaries, structures, and potential issues. Conducting a survey ensures that all parties involved have a clear understanding of what is being bought and sold, which helps prevent future disputes and legal complications. Below are the key reasons why surveys are conducted in real estate transactions and the types of information they provide.

Reasons for Conducting Surveys in Real Estate Transactions

Boundary Clarification

Surveys accurately determine the property's boundaries, ensuring that the buyer knows precisely what they are purchasing. This information is crucial to prevent disputes with neighbors over land ownership and boundary lines.

Legal Compliance

Surveys ensure that the property complies with local zoning laws, building codes, and other regulations. This helps buyers avoid potential legal issues related to non-compliance with local ordinances.

Lender Requirements

Many mortgage lenders require a survey before approving a loan. The survey provides the lender with assurance that the property meets all legal and zoning requirements and that there are no encroachments or other issues that could affect the property's value or marketability.

Identification of Encroachments

Surveys identify any encroachments, such as buildings, fences, or other structures that extend onto neighboring properties or public land. Knowing about these encroachments helps prevent future legal disputes and can influence negotiations during the transaction.

Easements and Rights-of-Way

Surveys reveal any easements or rights-of-way that affect the property. Easements allow other parties to use a portion of the property for specific purposes, such as utility lines or access roads. Understanding these easements is important for buyers to know their rights and limitations regarding the property.

Property Improvements

Surveys document the location of all existing improvements on the property, such as buildings, driveways, and fences. This information ensures that all improvements are within the property's boundaries and comply with zoning laws.

Information Provided by Surveys

Property Boundaries

Surveys provide precise measurements and descriptions of the property's boundaries. This includes the exact location of corners, lines, and any discrepancies between the physical occupation and the legal description of the property.

Land Features

Surveys include detailed information about the property's physical features, such as topography, natural landmarks, and bodies of water. This information is crucial for understanding the land's potential uses and any environmental concerns.

Structures and Improvements

Surveys document the location, dimensions, and orientation of all structures and improvements on the property. This includes houses, garages, sheds, driveways, and other significant features.

Easements and Rights-of-Way

Surveys identify any easements or rights-of-way that affect the property. These may include utility easements, access easements, or public rights-of-way that grant others the right to use a portion of the property.

Encroachments

Surveys highlight any encroachments, such as neighboring fences, buildings, or other structures that extend onto the property. Identifying these encroachments helps address potential conflicts and legal issues.

Zoning and Legal Compliance

Surveys provide information on zoning classifications and any legal restrictions that apply to the property. This ensures that the property's current and intended uses comply with local regulations.

Types of Surveys in Real Estate Transactions

1. Boundary Survey: Establishes the exact property lines and corners.
2. ALTA/NSPS Survey: Provides detailed information about boundaries, improvements, easements, and other significant features, often required for commercial transactions.
3. Topographic Survey: Maps the contours and elevations of the land, useful for construction and development projects.
4. Mortgage Survey: Confirms property boundaries and identifies any structures or improvements, often required by lenders for residential properties.

Conclusion

Surveys play a crucial role in real estate transactions by providing detailed and accurate information about the property. They help clarify boundaries, ensure legal compliance, identify potential issues, and fulfill lender requirements. By conducting a survey, buyers and sellers can proceed with greater confidence, knowing they have a clear understanding of the property's characteristics and any potential legal or physical challenges.