Investing in land or real property may be the most expensive investment you’ll make in your lifetime. Thus, it is wise to learn a little more about real estate and be aware of the significance of boundary surveying before making such investments.
Boundary Survey Defined
Let’s first define boundary surveying. Boundary surveying is the verification of property lines of a parcel of land as detailed in the description in the deed. It may also show all the structures found on the property including any easements and encroachments, and also the restrictions imposed by local governing authorities.
To avoid unnecessary expenses and free you from frustrations brought by unexpected lawsuits, it is vital to conduct a boundary survey in the Lafayette area before purchasing or selling a parcel of land. A survey is also required before subdividing a lot, building structures or improving the property to make sure that you don’t end up having to move a building or resolve a boundary dispute with your neighbors.
Other Uses of a Boundary Survey
A boundary survey may also help you identify whether you are located in a floodplain, which would mean you are required to obtain flood insurance. A boundary survey in Lafayette is also very helpful in completing the requirements for a mortgage loan from a lending institution, which includes checking the accuracy of the description of the property in the deed and the presence of improvements, easements, and any encroachments.
The cost of a Lafayette boundary survey depends on several factors, some of which can only be determined once the work has begun. Some factors are size of the lot, the terrain, the vegetation type, the season of the year (which greatly affects the growth of vegetation). The work begins with the deed research that can be started with the deeds or abstracts that the landowner may possess and can extend as much as going to the courthouse and putting together the pieces of the deed. The job could get more complex if the property involved has been passed on through several owners over the years. Some may have sold off a portion of the parcel or may have added to adjacent lots. The more of these additions and subtractions can significantly impact the complexity of the work to be done, which consequently adds to the survey cost.
Boundary Survey Drawing
After the boundary survey is done, a landowner should expect to get a survey drawing that contains a sketch of the survey findings and the legal description of the property. It is also expected that proper markings of the property lines and corners have been placed, which are usually bright-colored ribbons or paint, wooden stakes, or concrete monuments. Others survey projects may or may not include a drawing or report, depending on the services agreed upon.