Investing in real estate can be one of the largest purchases you will ever make, so it is vital to understand exactly where the boundaries are to any given property. As a result, surveying has emerged as a common and effective way of accurately outlining and verifying the boundaries of your property. Unfortunately, the services provided by these individuals are not well understood by most people, and this can lead them to believing a couple of prevalent myths.
Myth: Surveys Are Only Needed When Buying Property
It is not uncommon for a prospective buyer to want to see the surveying report for a property, but many people assume that getting a survey done is only needed for selling property. In reality, it can be used to settle a variety of disputes. A particularly common dispute emerges when an individual builds a fence. When building a fence, you neighbors may claim that it encroaches on their properties, but you can easily put these complaints to rest by providing copies of the surveying report for your yard.
Also, if you are ever applying for a loan from a bank and use the real estate as collateral, the loan officer may want to see surveying reports proving you own as much land as you think. This may seem like an intrusive requirement, but it is the best option for banks to verify the value of your property.
Myth: You Do Not Need To Perform A Walk-Through With The Surveyor
After your surveyor has completed their work, they will provide you with a detail report that accurately outlines the lines of your property. However, some homeowners make the mistake of never requesting a walk-through of the property with the surveyor. Making this mistake can make it difficult to interpret the surveying report, and this can lead to homeowners accidentally violating property lines.
To avoid this problem, you should have the surveyor give you a tour of your property lines, and you should also document this tour with either a camera or video recorder. This will provide you with a simple-to-use reference if you are ever unsure about the text of your property.
Surveying is an ancient way of marking the boundaries to both private and public real estate, but it is a highly complex and often misunderstood process. By learning the truth behind the myths that you will only need this done during real estate transactions and that there is no benefit to performing a walk-through, you will be in a better position to get the most from surveying experts like Great Lakes Engineering.