Are you planning to buy a commercial or residential property in the near future? It’s a lot of analysis, consulting with experts, decisions, documentation, and more. Regardless of the total value of the property, you can’t make mistakes that can not only end you up with the loss of money but legal compliance issues, reputation damage, etc.
Either you want a residential property for living or are trying to make some fortunes in the real estate sector, you should avoid certain mistakes. Let’s discuss how ignoring a land survey before acquiring the property can do more damages than you think.
Why Should You Complete A Land Survey?
In general, you are taking an important financial decision, and you can’t make any mistakes. When it comes to things that involve money, you can’t go with the word of the seller or your retailer. Also, never think that the free advice and suggestions you get from others are always good.
The land surveyors Melbourne identify the discrepancies between the title plan of the plot and the survey and prepare a title re-establishment plan if necessary.
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A land survey will help you with the following information:
● You can’t just go with the boundaries of the property as there may have inappropriate measurements and incorrect boundary lines. For accurate land measurements, it is necessary to get a land survey.
● If you are planning to construct a property, the land survey can help you prepare the plot for the construction. Your structural engineers and interior designers need the land survey for the accurate representation of the plot. They might also consult with the land surveyor to get the scope of the land.
● The land survey also helps you understand the landscape, hardscape, and location to conclude the worth of the property. This way, you can avoid paying inflated rates for it.
● The survey also can help you understand the topographical details of the land, including structural issues of the soil, susceptibility to flooding, and more. This avoids the confusions and issues that are expected later.
● It is also necessary for parcelling the land if you are planning to purchase a piece of land from a large plot. Whether you want the land for commercial purposes or residential property construction, the survey helps you to determine accurate pricing and ensure the correct transfer of land, without any inaccuracies.
In addition to these reasons, you should have a land survey to meet the mortgage and title insurance requirements. In many cases, the buyers only think about the land survey when it becomes necessary for filling a mortgage application or getting title insurance.
Some Common Issues Without A Land Survey
While learning the importance of a land survey, it is also necessary for you to know the issues that can happen without a land survey. In many cases, inaccurate demarcating of land before the purchase can lead to disputes with the neighbours and associated legal battles.
Some cities and counties put restrictions on dividing properties in specific localities or have special regulations for constructions on the land. This is very important if you have any plans to divide and sell the property for profit. Your land surveyor will have accurate knowledge of the rules and regulations pertaining to the land and guide you in the purchasing process.
Some property buyers accept the older surveys provided by the seller and think that they can save a few hundred dollars. It can be a big mistake as the dimensions of the property might have changed over time, and the survey stakes may have disappeared. In many cases, the current owner would have made some land developments and alterations that change the property dimensions.
While a visual inspection can give you details about above-grounded wires and poles, you won’t get any idea about the drain lines and underground cables passing through the property. The utility and the city councils may have rights in the property and may put certain restrictions on its use. Without a land survey, you may not have the knowledge of these, ending you up with constructions on these lines that lead to the damage of these lines and potential violations.
Accurate Capturing Of Data With GIS-Enhanced Surveys
Today, most land surveyors use Geographic Information System (GIS) to capture the correct measurements and create maps and charts to give the accurate location of the property. It uses a number of software and tools to view, analyse, manage, and display geographical data.
The technological advancements have simplified capturing of spatial information using GPS and helped to prepare the visuals and reports, making the results more comprehensive. Compared to traditional survey frameworks, GIS surveys give longitudinal and latitudinal positions of the property, without any distances between points, measuring angles, etc.
Modern land surveys are much more accurate, specific, and handy and provide you with critical information that can help to make a decision.
Conclusion
Some actions can’t be reversed, and the impacts can be widespread. A few hundred dollars you spend for a land survey will help you save from costly mistakes, understand the possibilities of the land, get accurate pricing, learn the compliance and regulation issues, and so on.
Check with multiple land surveyors, get their quotes, negotiate for a better deal, and make your property purchase secure.
