Why You Need a Good Survey

July 1st, 2013

Along with your go-to Realtor, mortgage professional and title company, a good surveyor can be an invaluable asset in the home buying process.
A property survey offers peace of mind. Whether you are buying or selling, it is important to establish where the boundary lines are drawn. For example, it is possible that structures such as fences and decks are over the property line or encroaching on an easement.
All parties need to be aware of these situations and they will need to be addressed sooner rather than later. If they are not addressed, they will undoubtedly rear their heads at some future date – likely when the property is either being refinanced or put on the market for a future sale.
Another important reason to conduct a property survey is purchasing a home in a flood zone.
Lenders order flood certificates, regardless of the likelihood of flooding. If the home is found to be in a flood zone, it is incumbent on the buyer to prove that the home itself is unlikely to flood; otherwise he or she will have to purchase flood insurance.
In many cases, part of the land on which the home sits will flood, but the home itself is high enough that it is out of harm’s way. Hopefully, a survey will prove that the home is in a safe zone and that the (sometimes costly) flood insurance is not required.
Like insurance, a survey can be seen as a preventive measure and well worth the peace of mind.