When we represent a client who is purchasing a home, we are often asked by the client what the purpose of a property survey is and whether they need to obtain one before they close. Our answer? Yes! Having a surveyor prepare a property survey before you purchase a home is really important.
What is a survey? A survey is used to to determine or confirm property boundaries. If you are purchasing a home, you most certainly want to know what the boundaries of your property are. A survey can also show you whether there are easements on the property, where the utility lines are, and will confirm whether the legal description is accurate. If the seller has an old survey, it’s important to have an updated one prepared so that you can confirm whether anything has changed since the last survey was prepared.
Why is a survey important? Purchasing a home will most likely be one of the biggest investments that you make in your lifetime. You want to make sure that you know what you are buying, that the property lines are what the legal description says they are, and that you are not going to have any problems with your neighbors going forward. If there is a fence on the property, for example, was it installed within your property lines? If not, is it going to cause an issue with your neighbor in the future? On the flip side, if the neighbor installed a fence, is it within the neighbor’s property lines? You want to make sure that what is on your land is yours, and what is on the neighbor’s land is theirs.
A survey will also confirm whether the existing structures and improvements on the property are not in violation of any laws or other restrictions that the municipality might have. Some common restrictions include frontage, set-backs, height, bulk and dimensions. If you are purchasing a home that has a shed on the property, for example, and the survey discloses that the shed is in violation of the municipality’s restrictions regarding set-backs, this is an issue that can be resolved and negotiated with seller prior to closing. This is just one example of many that a survey can reveal.
In addition, if the title company does not have a current survey that they can read into the title report, the buyer will have to assume responsibility for any problems that would have been revealed by a new survey. Any state of facts which an accurate survey would have revealed will be excluded from coverage.
For the foregoing reasons, when a client asks us whether they should obtain a new survey, we advise them to do so. Given the amount of the investment they are making when they purchase a property, the cost to obtain a survey is minimal compared to the risk of potential problems that could arise down the road if they do not have one. It could end up saving you money in the long run!
Disclaimer: The information contained in this post is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls and communications. Contacting us, however, does not create an attorney-client relationship.