Alta Land Survey
Alta Land Survey is a detailed survey made in accordance with the American Land Title Association and the American Congress of Surveying and Mapping. When you sell your property and wait around for the lawyers to finalize the deal, the exchange and the completion stage can be your most stressful. The final hurdle to make the transaction official. Most title insurance companies may require an Alta land survey for your refinancing plan or exchanging hands.
During the exchange process, there is nothing much you can do except wait on the solicitors and conveyancers to finish the transaction in writing. But, if you are purchasing a commercial real estate property and need to refinance, you may be required the Alta land survey, which reflects the boundary line disputes, encroachments and other conditions or circumstances not found in public records.
There could be problems about ownership or boundary that may not be recorded at the time of purchase, but could haunt you later. The survey prepares and uncovers issues like this, as much as possible, before the payment is made.
Simply put, the detailed Alta land survey provides relevant information and helps you mitigate or prepare yourself for the potential risks or potential encumbrances and also, helps you decide whether you want to continue with the purchase or not. The best way to fulfill an Alta survey is by hiring a professional land surveyor.
What information can you get from the survey? The report provides a wealth of information about the:
* Property boundaries
* Easement and encumbrances
* Evidence of use by other parties
* Names of neighboring property owners
* Land improvements
* Roads and property features
* Access and legal routes to the property
* Zoning classification
* Flood zone classification
* Water boundaries
* Existence of cemeteries
* Legal property description
You may already have the boundary survey, but it is not everything, because it may fail to provide critical information, such as disputes and past legal problems. You can ensure the security of your investment just by playing it safe and have an Alta land survey conducted on the property before you sign any legal documents.
The truth may be unrecorded, but further digging can fulfill the requirements of the title and insurance companies.
Knowing what to expect can make you gain some advantage over the set price. The survey actually conducts research into public and private land records, which is rather time consuming and difficult to obtain.
After the surveyor obtain details about the possible encroachments, access points, and other critical notes, a map of the survey is then created with the detailed notes. The information is then reviewed by the buyer, seller, lender and the title company.
When it comes to commercial property deals and closing, an Alta survey is considered the major protection document that safeguards the investment from unexpected claims. It practically helps evaluate the property’s potential benefits and downfalls of ownership.
When you are done with the Alta survey, the risk would be minimized and there would be not much question about hidden property features or story. The Alta survey is very comprehensive and is conducted with stringent quality standards under the national standards adopted by the American Land Title Association.
Learn more about us, by visiting our land surveyors main page.