ALTA Survey Coordination

Posts Tagged ‘Surveyors’

Please see an interview with Charles Dixon a RICS surveyor with over 26 years of experience in the industry. Charles provides some in-depth information of much relevance to UK property investors including a definition of what value’ means today; modern day valuation techniques; due diligence tips; his own thoughts on the property market; regulation of the property industry and much more

1) Can you explain a bit about your background?

I have worked in the property world since graduating from Reading University in 1976 initially in the South Midlands and East Anglia, but for the last 26 years in the West Country counties of Cornwall, Devon, Somerset and Dorset.

2) What is your definition of value in the current UK property market?

Here is the non technical answer: the UK property market is a largely open and free market made up of thousands of individual transactions made by people and organisations with wide-ranging objectives. A free flow of information in the market is essential in informing the decisions behind those transactions. The internet has revolutionised the availability of information on transactions and has made it accessible to everyone; whereas before only people in the industry had such information. This has enabled many more people to join the property owning community. Value is what one person will pay to another for a property and, if value is not to be distorted, both parties must be well informed and acting in an arms length relationship.

3) Would it be fair to say that most surveyors are taking a conservative view on the valuation of property due to the uncertainty of the market?

Surveyors base their assessment of value not only on comparable evidence of similar transactions but also on their assessment of current market sentiment from the general public, the volume of properties available and being traded and of course many external factors that bear on the individuals undertaking a property transaction for example: the general state of the economy, interest rates , taxation policies etc. If surveyors are taking a conservative view, this should reflect a conservative approach that parties are taking in actual negotiations and transactions and reflecting the uncertainty of the market of which they form part.

4) The majority of investors reading this are residential property buyers one difficulty that has emerged as a result of the low market activity is the ability to obtain comparable sold data. What can be undertaken from your point of view to assist with this issue?

Data on property transactions is available through many free websites and through the Land Registry. Statistics on trends are also available free from the Department for Communities and Local Government and indices on house price movements from Halifax Bank and Nationwide Building Society. There are also subscription websites giving additional data which further knowledge about local markets (such as Hometrack’). Agents are, generally speaking, willing to help with information on transactions in their area provided they are approached tactfully and they are not restricted from giving information on a transaction by confidentiality. The current situation is dramatically better for individual investors than it has ever been and over time it is likely to improve further with the further development of the internet. However when there are so few transactions as we are currently experiencing, it is difficult find comparable evidence. This is a difficulty for professional Valuers as much as the general public. It needs deals to be done to establish the market. In these conditions investors may be taking greater risks as their decisions are less well informed. Property transactions have never been risk free and it may be that, after a long period of a rising market before this recession, some people became too complacent and assumed that their property transactions could not fail.

5) Can you talk through the processes that you would undertake prior to visiting a property in terms of your own due diligence?

Terms of business must be agreed with the client before visiting the property. Very often the client is pressing to have the advice/ survey/valuation as quickly as possible so that office based research sometimes happens after a visit rather than before. In any case, the Surveyor can target his research more efficiently if he has first visited the property and actually analysed its location. Depending on the purpose of the report, the Surveyor will want to consider most of the following:

- planning consents;

- short, medium and long term planning issues in the area;

- recent works of repair / improvement to the property;

- available consents guarantees;

- boundaries and related responsibilities;

- location and routes of utilities;

- environmental issues;

- contamination issues;

- presence of mines;

- flood risks;

- subsidence risks;

- details of construction if it is non-standard;

Much of this information and more is available through a local Authority search and website enquiries from various organisations.

6) Similarly, if you are requested to undertake a desktop valuation what steps would you take?

Surveyors should be very wary of desktop valuations which can be misleading to the recipient if the basis of the valuation is not properly understood. In general, such valuations should only be undertaken when the property has been previously inspected and preferably not too long before. Such valuations must clearly state the assumptions on which they are made. They are best avoided when a surveyor is dealing with the general public who will probably expect the same level of knowledge of the property as if it had actually been inspected and may feel let down if they subsequently find changed conditions which had not been identified through the lack of an inspection.

7)On the back of the last two questions, do you think residential house prices in the UK are still over-valued?

In my opinion, residential house prices are too high in relation to salary levels particularly if as a society we wish to encourage a home ownership culture. This is not a fault of the property market, but of external factors that bear on home buyers such as a lack of new homes available to buy thus restricting supply. In an open market such as the property market in the UK, home buyers are competing for the available homes to buy with other types of purchasers such as foreign investors, buy to let investors, holiday home buyers etc. Unless the government intervenes to disadvantage these other types of purchasers (which I would not advocate) they key to reducing prices is to increase the supply of homes on the market.

Should residential property investors take more of a value based approach as is what is more common in commercial property?

If the motive for purchase is property investment then yes, a value based approach is the best advice. However, when people buy for their own occupation and use they apply many different subjective criteria and will sometimes ignore the rational behaviour of the market and pay in excess of what the property could be resold for. This is a valid part of a diverse open market that sometimes makes it unpredictable for those observing it from a distance.

9) You are a major advocate of regulation of the property industry and your book discusses this in detail what kinds of measures do you think should be in place?

I am an advocate of the proper regulation of individuals working within the property industry particularly to protect the inexperienced general public who occasionally participate. I do not particularly advocate regulation of property itself unless there is a clear need . In many parts of the property industry there is a clear need and obvious benefit from various types of regulation, however in general I feel that there has been excessive and too complex regulation in recent years to the extent that some people ignore areas of regulation or the regulation restricts the market. Regulation should be proportionate to the benefit achieved as well as being simple and straightforward.

10) Is there a difference, in your opinion, between regulation to install professional principles into the industry and the government just sticking their oar in?

Governments are motivated to regulate where they feel that consumers are adversely affected or if the market is acting imperfectly or against policy objectives. Governments are also motivated to find ways to tax property which is a good store of private wealth and an easy target for the raising of public finance. Occasionally, governments will regulate in pursuit of social policy objectives. In general, the government in the UK has not regulated much in pursuit of encouraging professional principles, but rather has relied on the industry self-regulating itself through its professional bodies such as the RICS and NAEA. The Government has resisted the temptation to statutorily regulate Estate Agents which it could have done at any time by using powers in the Estate Agents Act of 1979. This means that the professional bodies need to be constantly looking at themselves critically to ensure that they are reflecting public opinion and public concerns by adapting their regulatory arrangements to keep up with best practice.

About the Author:
For more interviews like this and to keep up-to-date with the latest news broadcasts, hints, tips, strategies, please see the ‘Property Investor Hub Blog’: http://www.propertyinvestorhub.co.uk/

It is the delicate method of determining sensitive information like the 2D or 3D position of all the points, their distances & the angles existing between them in a given property. These data are used later by surveyors to build up boundaries & land maps which can be referred to solve land ownership issues & construct private to government projects. The land surveys play a crucial role in the smooth running of projects including from the environment & construction sector. With the rapid development in technology the traditional land surveys have given rise to several other new varieties of surveys that can successfully measure the water & air present above & below the given piece of land.

The topographic surveys, building surveys, boundary surveys, construction surveys, location surveys & ALTA/ACSM surveys are some of the most popular surveys conducted these days. An ALTA survey is a very detailed survey covering all the elements of mortgage surveys & topographic surveys in it. These surveys are mainly sought upon by lending institutions. The ALTA survey of a commercial property needs to confirm a set of mapping & surveying standards as devised by the ATLA/ACSM together. The Alta survey of industrial properties strictly adhering to the ALTA/ACSM standards is surely going to bring them better results in the form of ROI.

In view of the growing demand for building extension or conversion plans, building surveys are becoming more prevalent. They are the expensive survey type which are usually recommended for buildings that are already having lots of extensions or alterations or will undergo massive renovation or alteration in nearby future. Those who want to keep pictorial record of their property after a long period of alterations prefer to go for building surveys.

Similar to their name, boundary surveys are carried out to demarcate the original boundaries of a given piece of land or property. The surveyor takes into account the previously recorded markers along with the new improvements on the land while preparing the true boundary lines of a property.

The topographical surveys are the ideal way to distinct natural & artificial developments on a site. These surveys value a lot in both government & private projects. The architects & engineers use these maps as an important tool to aid in the designing or development of a site. The topographic maps help in finding fences, elevations, land contours, trees streams, buildings & other improvements on a piece of plot.

All kind of land surveys find maximum application in architectural, electrical & construction industry. The land surveys are regarded as handy tools of reference from conception & planning phases to production & maintenance thereafter.

About the Author:
Michael Butters is a professional land surveyor who has spent years conducting land surveys, topographical surveys, building surveys & boundary surveys. He has provided several residential & commercial construction projects with high quality topographical services for affordable price. To know more on his successful Land surveys projects.

The Different Types of Land Surveys

By Charles Iner

While most people think of land surveys in the most basic sense, the drawing of the boundaries of a property, in actuality there are many varied and different ways of surveying that service many different industries. Property surveys are a large part of the business, but there are also surveys and surveyors that service the construction industry, the environmental sector, and many others. The kinds of surveys that are conducted would surprise most people, and some things that you might think are surveys aren’t surveys at all. Instead of the standard two-dimensional measuring from one point to another, today’s surveys not only measure the land, but also the air and water above and below us.

The most common and well-known surveys conducted today are boundary surveys, mortgage surveys, and topographic surveys. An ALTA survey, which is actually a shortened title for ATLA/ACSM, combines elements of all three, with a set of standards put forth jointly by the American Land Title Association and the American Congress on Surveying and Mapping. ALTA surveys are most commonly used for commercial properties; by having a universal standard, companies can assure themselves of the level of thoroughness and be confident when the results are guaranteed by an ALTA survey.

Boundary Surveys are exactly what the name describes: a survey to establish the true boundaries of a given property. Through previously recorded markers and the establishment of new landmarks, a surveyor will establish the true boundaries of a property and then mark the corners and lines of the plot, using markers such as iron rods, pipes or concrete monuments in the ground, or nails set in concrete or asphalt. In the past, piles of stones, trees or other, less permanent markers were used, which led to confusion when the markers were either destroyed or changed.

Mortgage Surveys are simple surveys that, for the most part, determine land boundaries and building locations. They are usually required by title companies and lending institutions when they provide financing to show that there are no structures encroaching on the property and that any structures on the property meet current zoning and building codes. It is important to ensure that you are getting an officially licensed mortgage survey performed by a licensed land surveyor, and not a mortgage inspection, which is a substandard survey which does not adhere to any set standards and is not regulated or accepted as an official land survey.

Topographic Surveys are land surveys which locate natural and man-made features. For example, buildings, improvements, fences, elevations, land contours, trees and streams. These are then measured for their elevation on a particular piece of land, and presented as contour lines on a plot. Topographical surveys are sometimes required by the government. Engineers and architects also use topographical surveys to aid in the design of improvements or developments on a site.

One of the largest and most rapidly growing segments of land surveys are in the construction industry. Surveys are crucial tools from inception and planning, to actual construction and maintenance afterwards. Most construction surveys fall under the discipline of civil engineering, which may require additional degrees and certifications in order to conduct. All construction projects begin with the Plot Plan or Site Plan, which sets out the plan for the entire project, including all existing and proposed conditions on a given site. As-Built Surveys are conducted several times during a construction project to verify for local and state boards that the work authorized was completed to the specifications set on the plot plan. Foundation Surveys are a type of as-built survey which collects the positional data on a foundation that has been poured and is now cured. Foundation surveys are done to ensure that the foundation has both been constructed in the proper location and has been built in the proper manner according to the plan.

For existing structures, a Deformation Survey determines if a structure or object is changing shape or moving. By the taking of three-dimensional positions on specific points on an object, then letting a period of time pass before retaking and measuring the points, a determination of whether a structure is moving can be made.

Although it may seem counter-intuitive, land surveyors are also responsible for performing Hydrographic and Bathymetric Surveys. Hydrographic surveys collect data relating to any body of water, and the data collected may include the water depth, bottom contours, the direction of the current, observing and recording high water marks and water levels, as well as location of fixed objects and landmarks for navigational purposes. They can also be conducted to gather information for engineering or resource management purposes, such as hydro power plants. Bathymetric surveys deal exclusively underwater, and map the seabed profile.

Geodetic surveys fall under both the land and water category, as they map out the shoreline. Thomas Jefferson commissioned a geodetic survey in 1807 as the Survey of the Coast. Progress on the survey moved slowly at first, as they did not even have the proper instruments to perform the survey until 1815. It still exists today as the National Geodetic Survey and its responsibilities now include the interior lands of the United States as well as its coasts.

Wetlands Delineation and Location Surveys belong in a category all on their own; they are performed when construction work that is being planned on or near a site containing defined wetlands. Local, state, or federal regulations vary, but wetlands are usually classified as areas that are completely inundated with water more than two weeks during the growing season. Boundaries of wetlands are determined by observing the soil colors, vegetation, erosion patterns or scour marks, hydrology, and morphology of the land in question. Data is then collected on the locations of the placed flags and a plan is drawn to reference the boundary of the wetlands and compare it to the proposed boundaries of the surrounding plots or parcels of land and the construction work proposed within.

While there are many more forms of land surveys, to list them all and their attributes would result in a very long article. The options presented above are simply the most common forms of land surveys, and the ones that the general public is most likely to encounter.

We at Point to Point Land Surveyors pride ourselves on accuracy, customer service and quality work delivered on time, guaranteed. Residential land surveys are a specialty.

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