People in the market for a new home and property should be wary of taking someone's word about land surveys. Doing so will help you avoid many expensive problems in the future. Buying a plot of land can be a huge investment, so making sure you are actually getting what you pay for is extremely important. Always take the time to have your own property survey done if you are considering the purchase of a new home and property.
What's Under the House You Might Buy?
Many new homes are built in subdivisions across the country. Buyers considering these homes might think a survey is not necessary, because the homes are new. However, consider how many different contractors might have been working in or around the property you may be considering. Making sure the current survey is correct is a good idea before you spend your life savings on a down payment for the home. In one case, an underground culvert that could have caused structural issues later on was found underneath a new home in a subdivision during a routine survey contracted by new buyers.
What About Title Insurance?
Many home buyers are not familiar with title insurance or the reasons they need to invest in it. In the event your new property's deed was not properly recorded, title insurance will cover you. Investing in a land survey along with your purchase of title insurance is wise. If your deed was forged, or if there is another party included that you were not aware of during your purchase, your insurance can protect you and the investment you made in the property.
Can Your New Neighbors Walk Through Your Yard At Any Time?
Many neighbors living close to each other have rights of easement imposed in their land surveys. Rights of easement give a neighbor the right to access a public road from their property if your property is blocking them from it. To learn whether your new neighbors truly have a right of easement, having a new survey of your own completed is best.
Don't Assume The True Property Line Runs Under The Old Hedgerows
Buying a home and property that has been around for a few years can be a wonderful experience. However, assuming the row of hedges between you and the neighboring home is the true boundary line could be a mistake. Having a new survey completed before buying the home could allow you to see the hedges are all on your property – and if maybe even some of the neighbor's front porch is as well. These kinds of scenarios can happen, costing you serious repercussions if you buy a home and decide to refinance later on. Banks and other types of mortgage companies will not loan money against property with untrue deeds or property plats.
Contact a survey specialist like Michael E. Rapier Surveying, Inc. for more info.