(Does not apply to a condominium purchase)
A survey is a drawing prepared by a registered land surveyor. It is based upon physical inspection and measurement of property in conjunction with information contained in county land records. A survey indicates the size of the lot and any easements, encroachments, or dimension discrepancies affecting the property.
A survey confirms for the buyer that their visual assumptions about the property boundaries are correct. Furthermore, a survey may alert the buyer to legal description discrepancies, encroachment issues, or easement violations. Although special title insurance* may be available to protect a purchaser from more catastrophic problems, conducting a survey in advance may help the purchaser avoid potential problems altogether.
A survey will automatically be ordered for closing only if required by the purchaser's lender. However, upon the purchasers request, The Fryer Law Firm will order a survey as part of the closing process. We review hundreds of surveys a year in our office and discover items of concern for the buyer in approximately 20% of our files. The average cost of a survey is $375.00.
*Enhanced title insurance protection is available for owner occupants of property with an actual street address (i.e., acreage without a street address may not qualify).
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