Investing in real estate is not a matter of one day. It involves a lot of research and analysis when it comes to putting your money in something as important as property. A property survey will help you in many ways. Lets find out what it is and how it is important.
About Property Survey
A property survey is a specific description of the area that is required to determine A property survey is an essential part of buying a property, it not only tells you the defects the property may have but it provides an accurate independent valuation that is essential to ensuring you are getting a good deal”, according to https://www.thepropertybuyingcompany.co.uk/.
It will ensure the actual boundaries and lines of your land. It defines your land according to legal capacity which is in line with the property development
. It can also be necessary if you want to construct something on a piece of land. With the help of this survey, you can know the actual worth of the property. The survey of the property is also important to determine or even confirm the boundaries of the plot and identify other conditions and restrictions regarding the property you are planning to buy.
Property Survey: How it is Done?
The main process of the property survey involves a property surveyor. The whole process is done in three simple steps. They are,
● Legal Research
First, property surveyors will do the job of legal research of the area before they have a look into the land. They will search and find out the history of the property deed including a title search. This will ensure it does not have any discrepancies.
● Field Surveying
After researching the land, the property surveyors will now do the field surveying in which they will visit your land and have a look at it. The surveyor will draw out a sketch of the property, the boundaries and edges, and the elements and characteristics.
● Map and Report
Finally, the surveyors will provide a map that includes the legal boundary details of your property. They will also provide a report mentioning the address, location, adjacent properties, and improvements that you can make to the land after buying it.
The Importance of Property Survey
A property survey is a specific description of the area that is required to determine the legal title for development purposes. It will ensure the actual boundaries and lines of your land. It defines your land according to legal capacity. The tax quantity surveyor
will find out the amount of tax you need to pay for your property based on your property survey documents that have been provided by professional land surveyors. Property surveys are important for getting title insurance. It provides legal permits on your property to avoid encroachments. A property survey is also required when you want to do any improvements along the lines and boundaries of your property like sidewalks and driveways. If you have your property surveyed before buying, it becomes easier for you to make any kind of structure like swimming pools, fences, and sheds in your area because it has been certified that you are the legal owner of that property.
Top Reasons for Property Survey
Before you buy a property, you need to discover the legal descriptions. Here comes the importance of hiring a professional land surveyor or property surveyor who will find out common discrepancies and problems and solve the issues before you buy the land. Some reasons for you to hire a professional surveyor are,
● To find out the legal boundary and property lines.
● To find out any gaps and overlaps.
● To find out the property regulations and laws.
● To determine the elements and details.
● To define easements and right-of-ways.
● To find underground cables for electricity, telephone, gas, and drainage systems.
● To determine any driveways, yards, party walls, projections, and overhangs.
● For adverse possession and encroachments.
● To find out the visible surfaces inside the boundaries.
● Determine the existing improvements of the property.
● For classifying the property into zones.
● For the protection of your investment.
Property Survey: Your Due Diligence
Doing a property survey might sound easy, but you need to be a lot more careful when going through the process. The survey is the ground to find out whether the property that you have decided to buy is perfect or not. You need to complete your due diligence
for your property survey. For that, you need to find out the best property surveyor in town. You must take multiple quotations from various surveyor companies and determine the suitable one. When your property is being surveyed, it is necessary for you to be present at the site. Try to learn more about the potential problems, regulations, and legal issues of your property than the elements and features. Different areas have different costs for a property survey, so find out the best quotation before hiring a surveyor.
Now you know what a property survey is and how it is important. Determining a legal title for your property is very important. So before you start the process of buying the property, or begin renovating your property with the existing elements, always obtain a property survey document.