Surveying Your Path to Real Estate Success: Understanding the Key Types of Surveys

When it comes to the real estate industry, knowledge is power. Whether you're a prospective buyer, seller, or a real estate professional, understanding the various types of property surveys is essential for making informed decisions and ensuring a smooth transaction.

In this blog post, we'll explore some of the fundamental property surveys that can make a significant difference in your real estate journey. From the meticulous ALTA/NSPS Land Title Survey to the precise Improvement Location Certificate (ILC), we'll briefly delve into each survey's purpose, scope, and importance. By the end of this article, our hope is that you'll have a clearer understanding of these crucial surveys and their roles in real estate transactions. A local surveyor will ultimately be your best place for the right recommendation, but this should help you begin your conversation.

ALTA/NSPS Land Title Survey: A Closer Look

The ALTA/NSPS Land Title Survey, standing for the American Land Title Association and National Society of Professional Surveyors, is a comprehensive and highly detailed survey that plays a pivotal role in commercial and private property transactions. This survey aims to provide consistency and uniformity to the title industry by capturing a wealth of property information. From property lines and boundaries to real property details like easements, encroachments, liens, and land ownership data, an ALTA/NSPS survey leaves no stone unturned. Whether you're buying or selling property, this survey ensures that you have a thorough understanding of the property's characteristics, minimizing the risk of potential complications down the road.

Land Survey Plat: Unraveling Property Boundaries

A Land Survey Plat is a valuable tool for establishing property boundaries. It involves determining property corners and is essential for both existing tracts of land and new parcels containing 35 acres or more. This survey provides a precise legal description of the property, offering a visual representation of its boundaries. When it comes to property transactions, having a Land Survey Plat can be crucial for ensuring that everyone involved is on the same page regarding property lines and dimensions.

Boundary Survey: Defining Property Boundaries

A Boundary Survey is a formal method for defining property boundaries, with a primary focus on identifying the corners of a parcel of land. It is typically commissioned before buying, dividing, improving, or building on land. Professional surveyors perform boundary surveys to ensure that property lines are accurately established. Since precision is paramount in such surveys, hiring a professional is strongly recommended to avoid potential disputes or complications in the future.

Improvement Location Certificate (ILC): Highlighting Property Improvements

An Improvement Location Certificate (ILC) serves a unique purpose in property transactions. It depicts visible improvements that may encroach onto the subject property from adjacent properties or vice versa. While it provides information about distances from the property line for major structures, it's important to note that an ILC does not constitute a boundary survey, set property corners, or establish property boundaries. It's a useful document for understanding property improvements but should not be relied upon for legal or construction purposes.

Bottom Line

In the world of real estate, knowledge is your greatest asset. Understanding the key types of property surveys, can empower you to make well-informed decisions. Each survey serves a specific purpose and offers varying levels of detail and legal significance. Whether you're a buyer, seller, or real estate professional, being aware of these differences can help you navigate real estate transactions with confidence and clarity. For more in-depth information on the distinctions between these surveys, be sure to check out our dedicated blog post on the topic. Your journey to real estate success begins with a solid understanding of the tools at your disposal.