Feb 20, 2013

Why is Prior Survey Important before Buying Your Next Home?

Purchasing property is always an expensive investment and such investments should be considered carefully. When you decide to buy a property, there are several things that you have to take into consideration, especially if you are buying property for the first time and you don’t have any knowledge of the real estate procedures and risks involved in the process.   

Property Survey is Very Crucial 

Out of the several aspects that need to be taken into account, prior survey of the property is also a very significant one. If this survey is not done properly, there are chances that you could get face several risks later on. A land surveyor can best assist you in the process of property survey. Since a survey will make use of the recorded written report from the seller (normally in warranty deed form) and will give the purchaser a declaration (normally in map form) of the ‘lines’ provided as ‘title rights’ against the property lines as situated on the ground, it would be easy to ensure safety of buying the property.
Risks Involved in the Process 
So, what are the risks involved in buying a property without a prior survey? Read on to know. There are few risks related to owning property without the advantage of getting a survey done on it. The first is that possessing title rights from seller is in no way a guarantee of ownership of the property. The second is what is yours in the written conveyance is at times not the same physical part of land present on the ground.   

What If You Don’t Do a Survey? 
If you are not considering getting a property survey done before purchasing it, you may never get to know of any kind of hidden conflicts associated with it. You may never get to know if any part of the building of your neighbor encroaches on your property, which could pose a great problem later. A surveyor can also let you know if the fences, sidewalks, driveways, building, and other features of the land lie out of your property. 
  Home Without Prior Survey   
Checking the Local Regulations 
You may also never get to know whether your potential property is in accordance with the local regulations of the respective state if the survey is not conducted; for instance, a property has to meet the wetland and building regulations. Sometimes, the present property owner may provide a land survey report, but an old survey report is not reliable since the recent land changes may not be covered in it. So, it is always wise to hire a land surveyor for doing the job. You may have to spend a few dollars as his fee, but then you will have the peace of mind that the property comes with no shocking surprises and you can rest assured.    

Other Considerations 
The most important of all, a land surveyor will setup an official margin of water, land or airspace by researching the historical margins and taking measurements. On the whole, by hiring a professional land surveyor, you can stay away from expensive risks such as a sewage corporation alleging easement rights to access your property for maintenance or repair or neighbors alleging that your fence is overlying their property. So, before buying a property, it is of utmost significance to employ an expert land surveyor to ensure that your hard-earned money is invested on the right property. Property survey is due diligence that’ll save your money and keep you away from possible hassles.   

Author Bio : Steven Robins is a real estate agent, who gives property buying tips to people looking forward to new property purchases. He has written lots of stuff for propertywide.co.uk - homes for sale.
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Anonymous said...
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Lily @ Cheap woollen rugs said...

This is totally true. Home is the place that you can live peacefully. So it has to be a nice and hassle free. These tips are so much useful since its taking about every single thing we should consider.

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