A land survey creates a useful reference tool, and a survey's findings could have significant legal implications for property owners. When you need to purchase a property or make considerable improvements to the area outside of a home, a survey may be an important piece of due diligence.
Existing Physical Descriptions of Properties May Be Useful
A survey’s findings will not rely wholly on previous depictions, but they can be a useful resource for a surveyor. After you hire a surveyor, you or your realtor may receive a request for available documents.
A Financial Institution May Require a Survey
Mortgage companies commonly require borrowers to obtain a new boundary survey every time that a property has a transfer in ownership. This protects the mortgage company’s interest in the property by adding assurance that the buyer is getting title to as much property as he or she expects to.
A Land Survey Can Protect Transactions
Mistakes on existing plot descriptions could be grounds to rescind a transaction. An inaccuracy could also be the basis for legal action for damages equivalent to the value of what a person believed a property to be worth and what it is actually worth.
Ultimately, surveys help people make informed decisions. Also, getting the information that you need from a survey protects your financial interests. Contact https://www.chrisnelsonassociates.com/services/surveying/ for additional information about land surveys and civil engineers.