Sometimes it is easy to determine just where your property starts and ends. It’s usually simply to tell the boundary between your new home and your neighbors if you purchase a home in a development. A new construction property may even have stakes marking the property lines still in the ground. But what do you do if you are buying land or a home on acreage? How do you tell where you can build a home? How do you know where your land maintenance responsibilities end and your neighbor’s begin? The answer: get a property survey.
What is a property survey?
A property survey is a document created by a professional land surveyor that marks the boundaries of your property, identifies any easements, and indicates what structures are present on the property such as a home, septic tank, barn, ect.
Who does the property survey?
The buyer hires a professional land surveyor to complete the property survey. The surveyor will look at any existing documents like a home deed and historical maps that give legal descriptions of the property. Then, using tools to help measure the land, the surveyor will mark the boundaries of the property with stakes.
How does getting a property survey help me?
If you are purchasing a larger piece of land that has never been surveyed, it is helpful to know exactly where your border lines are, especially if you are planning to build on the land. You do not want to be encroaching on another owner’s property. Likewise, you want to make sure that no one is building on your property. It’s also important to know if there are an easements (common land that water or electric companies use) since you can’t build on these.
Sometimes, mortgage companies will require a property survey to be completed in order for the buyer to receive the loan. Title companies may require a survey if there are questions about the accuracy of the property lines in the documents they research.
How much does a property survey cost?
Cost can be dependent on the size of the property. Surveys generally range from $400-$1,000 dollars. The buyer pays the costs of the property survey. It’s always a good idea to ask your Realtor® to check with the seller’s agent. The sellers may have a recent property survey that you can use or can put you into contact with the survey company.
Property surveys can be helpful to buyers who need to know exactly where their boundaries are located. While any home or land owner can do a property survey, we usually see them completed during a purchase. If you are unsure of whether to get a property survey or not, talk it over with your Realtor®.
