Are you searching for the perfect investment property or your first home? It’s crucial to understand how a land survey secures your investment. There are many moving parts to closing on a real estate deal.
The appraisals, title reports, credit reports and tax determination, home inspections and flood determination, and land surveys are all equally important features of a marketable and insurable property.
All parties are responsible for acting in good faith and completing their required duties before deeming the deal a worthy investment and closing the transaction.
Many investors have a hard time wrapping their heads around the importance of a land survey in the process. It’s a good question, especially in new developments already zoned by officials and in cities where buildings have already stood the test of time.
Navigating Land for Sale: How Land Surveying Can Ensure a Wise Investment
The land survey defines the boundaries of the property. The survey describes the property using physical land features like a neighboring property or natural creek running through the area.
A land surveyor ensures the legal description mirrors the true measurements and dimensions between land markers.
The land survey identifies the location of a building on the property, such as a home, guest house, or garage. It also displays the easements, utility lines, or zoning setbacks.
Why Do Property Investors Need a Land Survey?
Land surveying is an essential part of making a wise investment in real estate. It provides detailed information about the property, which can prevent unpleasant surprises and unnecessary financial losses. Here’s how land surveying can safeguard your investment:
Identifying Boundaries
A land survey provides a precise delineation of property boundaries. This allows you to know exactly what you are buying and helps avoid potential disputes with neighbors. It can also prevent legal problems when you decide to build or sell.
Spotting Encroachments
Encroachments happen when a structure or improvement crosses onto a neighboring property. This can be a fence, a driveway, or even part of a building. Encroachments can cause legal disputes and may affect the value and the use of the property. A survey can identify these before you purchase.
Uncovering Easements
Easements give others the right to use parts of your property in specific ways. This could be a utility company that has the right to run lines across your property or a neighbor who has a right of way through your land. Not knowing about these can limit your use of the property and affect its value.
Recognizing Zoning Issues
A land survey can help you understand the zoning classification of your property. This is crucial information because it affects what you can and cannot do with the property. It will specify what kind of structures can be built, how they can be used, and where they can be located on the lot.
Verifying Property Size and Layout
Knowing the exact size of the property and its layout is important, especially if you’re planning improvements. It can also impact the cost of future services like insurance or taxes.
Detecting Potential Problems
A land survey can help identify potential problems like flood risk areas, or whether the property is on a protected natural site, which can significantly impact future construction plans.
How Does a Land Surveying Benefit the Property Investor?
Any real estate investor contemplating the risks and costs of a deal should include a land survey to mitigate this risk and avoid buying a problem property that doesn’t deliver on forecasted earnings.
A survey can tell the investor if a neighbor is encroaching on the property and the extent of the encroachment. Most professional real estate investors and top-rated agents won’t look at an investment property unless it undergoes a survey.
When you have an investment of this size and value, why add more risk to the deal when you can rule it out right from the start? The investor or homebuyer must also have legitimate documents proving the property boundaries to avoid infringing on their neighbor’s property.
Renovations to a property to make it suitable for rental or to add to livable square footage cannot violate property boundaries, or you place the investment at risk. Violating a zoning code because the renovation is too close to the property line is a classic mistake.
Precision Surveying & Consulting
3D Laser Scanning | Land Surveying | Ground Penetrating Radar (GPR)
Established in 1999, we operate nationwide with vast experience in a diverse range of services. Our products and services are suitable for Industrial, Medical, Data Centers, and Commercial Sites. We employ highly skilled and experienced professionals and a licensed surveyor, licensed in the state of Nebraska, allowing us to process and certify all our data in-house. The security and confidentiality of our client’s data are paramount to our working practices. We bring extensive experience and professionalism to every project and customize our support to your individual needs and concerns.
Contact Precision Surveying & Consulting to learn more!
