Why do I need an ALTA survey?
While a boundary survey is generally required for most residential transactions, commercial transactions typically require an ALTA survey. An ALTA survey may be more expensive, but it conforms to the more exacting standards of the American Land Title Association and the National Society of Professional Surveyors.
An ALTA survey is most commonly ordered in commercial land transactions by lenders. These surveys show improvements to the land in addition to the boundary lines that can affect property value. Easements, encroachments, and setback violations are examined.
How do easements affect my properties value?
Easements can be temporary or permanent. They may transfer to new owners of the property. They may be recorded or unrecorded. Even unrecorded easements may be considered valid. As the use of the area may be limited, they can adversely affect the value of the property.
How do encroachments affect property value?
Encroachments may adversely affect property values due to the possibility of costs to cure them. Encroachments run the risk of affecting property lines due to adverse possession laws. Easements may be granted to avoid this, but they may affect later transactions.
When do I need an ALTA survey?
In addition to being required when buying commercial property, these surveys may be necessary to purchase vacant land. While a “boundary survey” would meet minimum requirements, the property may need surveyed utilizing more exacting standards.
When buying a property or improving your land, easements and encroachments are essential to note. It is vital to follow all building codes, and the use of a land survey can help ensure this. If you are buying commercial property, call Realsearch of Texas today. We provide a good product at reasonable rates.