Who Orders the Survey When Buying a House?
Clarify responsibility and process for obtaining a property survey when purchasing a home.
When purchasing a home, numerous steps are involved to ensure a smooth and legally sound transaction. A property survey is a professional assessment that clarifies the physical characteristics and legal standing of the land being acquired. Its role and implications are significant for all parties involved in a real estate deal.
Understanding Property Surveys
A property survey is a detailed assessment that legally defines the boundaries and features of a parcel of land. It serves as a comprehensive map and legal document, illustrating the precise dimensions of the property and the location of structures. This examination helps to prevent future disputes and clarifies land ownership.
A property survey establishes accurate geographic boundaries and property lines. Beyond boundaries, a comprehensive survey includes details such as buildings, utilities, easements, and access points. Easements, for instance, grant others the right to use a portion of the property for specific purposes, like utility lines or shared driveways, which can affect its value and usability.
Surveys identify encroachments, which occur when a structure extends beyond the property line onto neighboring land. This can prevent costly legal battles with neighbors. A survey also confirms compliance with local zoning laws and building codes, ensuring structures are not too close to property lines or in violation of setback requirements.
Determining Responsibility for Ordering
Responsibility for ordering a property survey during a home purchase varies based on regional customs, lender requirements, and the terms of the purchase agreement. Buyers typically arrange and pay for the survey, as they have the most to gain from understanding their purchase and protecting their investment from unforeseen issues.
Mortgage lenders often require a property survey as a condition for approving a loan. Lenders use it to confirm the property they are financing is clearly defined and free from boundary issues that could impact its value. The need for certain title insurance coverage can also indirectly necessitate a current survey.
While the buyer often takes the lead, the real estate contract can specify which party is responsible for the survey. Sometimes, a seller may provide an existing survey, with an affidavit confirming no changes have been made to the property since that survey was conducted. However, the acceptance of an older survey by the title company or lender depends on its age and whether any significant alterations have occurred. If an existing survey is unacceptable, a new one may be required, with costs negotiated or reverting to the buyer.
The Process of Obtaining a Survey
The process of obtaining a property survey involves several practical steps. The initial step is to find a qualified and licensed land surveyor. Professional land surveyors are licensed by their respective states and possess the expertise and specialized equipment to accurately measure and map property. Recommendations can often be obtained from real estate agents, title companies, lenders, or by searching online directories for licensed surveyors in the area.
Before hiring, it is advisable to request quotes from several surveyors to compare costs and services. The cost of a residential property survey can vary widely, typically ranging from $375 to $745 for a standard boundary survey on a half-acre or less. More complex properties, larger acreage, difficult terrain, or specific survey types like ALTA surveys (often required for commercial transactions or by lenders for detailed analysis) can cost between $2,000 and $3,000 or more.
After selecting a surveyor, schedule the survey. The timeline for completion can vary based on factors such as property size, complexity, weather conditions, and the surveyor’s current workload. A standard boundary survey for a residential property typically takes one to two weeks. The surveyor will conduct research, including historical records and deeds, and perform fieldwork to gather precise measurements. Finally, the surveyor will prepare and deliver a detailed report and map outlining their findings, which then becomes a crucial document for the real estate transaction.