We respond to that question with a resounding “YES”! When purchasing a home, there are numerous important considerations that must be taken into account, including the location, size, condition, and price of the property. One critical aspect that should not be overlooked is obtaining a survey of the property. A survey is an essential tool that provides important information about the land and its boundaries, and it can help protect the buyer’s investment in the property. In this blog post, we will discuss the importance of obtaining a survey when purchasing a home.
What is a survey?
A survey is a detailed map that shows the boundaries of a property, as well as any structures, easements, or encroachments that may exist on or near the property. It is created by a licensed surveyor who uses specialized equipment to measure and map the property lines and other important features of the land. The surveyor will typically visit the property and use specialized equipment, such as a theodolite or GPS, to measure and map the property lines and other important features of the land.
Why is a survey important?
There are several reasons why obtaining a survey is important when purchasing a home:
- Property boundaries: A survey can help identify the exact location of the property boundaries. This is important because it ensures that the buyer is purchasing the correct amount of land and that there are no encroachments from neighboring properties.
- Easements: A survey can also identify any easements that exist on the property. Easements are rights of way or access granted to other parties, such as utility companies or neighboring landowners, and they can affect the buyer’s use of the property.
- Encroachments: A survey can also identify any encroachments that may exist on the property. An encroachment is when a structure or improvement, such as a fence or driveway, extends beyond the property line and onto a neighboring property. This can result in legal disputes and can be costly to rectify.
- Compliance with zoning regulations: A survey can help ensure that the property is in compliance with local zoning regulations. This is important because zoning regulations dictate how the property can be used and developed, and non-compliance can result in fines and other legal issues.
- Title insurance: A survey is often required by title insurance companies to provide coverage against any issues that may arise from boundary disputes or other property-related issues.
How to obtain a survey?
To obtain a survey, the buyer should hire a licensed surveyor to conduct the survey. If you are working with our firm, we have surveyors who work all over the state who we can recommend to you if you would like to call for a quote. The cost of a survey can vary depending on the size and complexity of the property, but it is a small fraction of the overall cost of the home purchase, and is well worth it in our opinion.
In conclusion, obtaining a survey is an essential step when purchasing a home. It can help protect the buyer’s investment by identifying property boundaries, easements, encroachments, and zoning regulations. A survey can also provide important information for title insurance coverage. By taking the time to obtain a survey, buyers can ensure that they are making an informed decision and can avoid costly legal disputes down the road.
IMPORTANT NOTICE
The information provided in the articles on our site is solely a public resource of general New Jersey legal information. It is intended, but not promised or guaranteed to be correct, complete, or up to date. This information is not intended to be a source of legal advice, nor is it suggested that you use it as a replacement for competent legal council. For Legal Services, call us at (732) 830-6464 or email our office.