Discover why a property survey is valuable for both buyers and sellers.

A land survey is a wise investment for both buyers and sellers. When you hire a professional land survey, you’ll get a custom-made map of property that shows the exact property lines and their dimensions as well as other features of the land, and stakes placed in the ground at key points to show the property’s boundaries in real life. Here’s a quick look at how home and property buyers and sellers use the information provided in a land survey.

How buyers use land surveys

Lenders will require a land survey before approving a home loan. However, even if you’re paying all cash it’s wise to get a survey because of the property-specific information you’ll gain.
First, buyers can see where the property lines are located. This is helpful to know before closing a sale because you can see if existing structures and fences are within property boundaries. Or, a survey could identify a neighbor’s building, drive, fence or other property that infringes on the property you intend to buy.

Second, surveys show buyers where any possible easements are located. Easements give another entity or person the right to use or access the property for specific purposes. For example, a utility may have underground lines on the property, or a neighbor may share a private drive. Easements are common and typically do not delay or derail purchase deals, but you do want to know about them.

A third way buyers use land surveys is to evaluate if the property meets their needs for future projects such as installing a fence, pool or outbuilding.

Land surveys help make new construction decisions

If you’re planning on building a new home, you need to understand how the house you intend to build will—or won’t—work on a particular parcel. In addition to property boundaries and easements, your land survey will document elevation levels that affect things like drainage, ease of driveway access and the home’s aesthetics.
By analyzing a survey paired with local setback requirements, you can see where your new construction home can be located on the lot.

Plus, the lender for your home construction loan will want to see a land survey.

How sellers use land surveys

Sellers are not required to provide a land survey but there are two key reasons they might.
The first reason has to do with pricing. A land survey verifies the exact size of a lot, and sellers can use this data to ensure their property is priced accordingly. This is especially important if land is being divided into two or more parcels.

The other reason sellers may invest in a survey is to help prospective buyers understand any easements or unique factors about the property. A proactive approach to potential questions can provide buyers with reassurance and smooth the way to sealing a deal.

Who else uses surveys

Sometimes, disputes emerge between neighbors about where property lines lie. A survey identifies exact boundaries and helps settle the matter.
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