The last thing you want is a surprise when purchasing a home. Most people are usually concerned about the age of the roof or or the condition of the HVAC system. But if you are not careful, there may be other property concerns that are found that can cost you more money.
A property survey, also called a house or land survey, can help find those issues before you purchase a home. It will ensure that you know precisely what you are getting with the land, so there are no surprises.
How exactly do you go about getting a residential or commercial property survey in St. Louis?
The Basics of a Property Survey
A residential property survey starts with specifying the exact boundaries of a plot of land. This clarifies the size of the property, and where the land begins and ends.
An up-to-date house survey is essential for legal reasons. This is due to the fact that local laws change from time to time. For instance, the home might have a driveway or a retaining wall that was well within the boundaries years ago, but after the city borders were updated, it now is an encroachment onto a neighbor’s property or too close to the street. An updated survey will provide the confidence you need to know that the property complies with current local regulations.
It can likewise highlight any potential disparities or boundary infringements. This can help you prevent any future problems or misunderstandings with neighbors or the city.
What do Surveyors Look for in a House Survey?
When a home buyer requests that a house survey be done, here is what a surveyor will normally look for:
- The legal boundaries of the plot.
- Any easements, such as for utilities, and entrances to the property.
- The topography of the plot, consisting of both natural, such as trees or a river, and man-made, including pools or fences.
- The location of any structures (sheds, detached garages) on the land.
The new, updated survey should be compared to any previous surveys done from the last time the house was sold. This way, if any discrepancies are discovered, they are understood by all parties before the closing.
What is the Cost of a House Survey?
It is essential to hire a professional when getting a property surveyed. This is one area where you do not want to rely on estimates or try to do it yourself. It will actually harm you in your transaction because they will not be accepted as legal documentations. Hiring a professional surveyor will ensure that you have legal records that will hold up in court, if you ever need them.
Survey costs vary from one state to another, but they will usually run between $250 to $1,000. See what your local state laws are relating to costs. In some states, the seller is responsible for the cost of the survey. In others, it might be able to be negotiated between the buyer and seller as to who pays.
Should I Have a Home Buyers Survey?
The last thing any buyer wants is to purchase a property with a plan for a new patio, pool or garden shed and then discover after closing that all the land they believed they had wasn’t theirs after all. You can imagine the problems this can cause!
But this sort of thing does take place. One way to prevent this issue is to have a survey done of the property before you buy. A buyer’s survey can save you a great deal of headaches and even more expenses in the future.