When buying a home, you have to pay closing costs to cover expenses such as your application fee, inspection, and title search. A property survey is another common closing cost.
A survey tells you the official boundaries and easements of a property and typically takes place after you make an offer on a home, but before closing. If the survey shows any major issues — for example, maybe you can’t build a fence like you wanted to — you may decide not to go through with the purchase.
What is a property survey?
A property survey, or land survey, is the process of assessing the property you’re buying. The survey reveals what legally belongs to you and what you’re allowed to do on the property. A survey is especially useful if you plan to build onto the home or make any major changes after buying it.
Types of property surveys
There are several types of property surveys. Here are some you may want conducted on a property you’re planning to purchase.
Boundary surveys
In a boundary survey, the surveyor defines your land boundaries so that you don’t build a structure that encroaches onto your neighbor’s property, such as a fence or an additional room to your home. If you intrude on your neighbor’s land, you could face legal charges.
Topographic surveys
With a topographic survey, you’ll find out details such as your home’s elevation. This may help you know whether you need flood insurance, or whether you’re able to make certain updates to the home.
ALTA/NSPS surveys
ALTA (American Land Title Association) and NSPS (National Society of Professional Surveyors) surveys are for your title insurance company’s benefit. Once this survey is conducted, they can issue the title insurance policy — something your lender will usually require to protect their investment in the home.
Construction surveys
If you’re building a house, you may need a construction survey, which will be used to establish the boundaries of your property and mark where certain utilities and structures can be laid out. Builders may also use these to determine where roads and other community features will be placed.
The importance of property surveys
Property surveys play an important role in real estate transactions and even after you become a homeowner.
Legal implications and dispute prevention
One of the biggest benefits of having a survey done is that it establishes a clear legal boundary for your property. It lets you know where your land ends and your neighbor’s begins, and it can help prevent future disputes about who can build what and where.
Facilitating construction and development
Property surveys are also necessary in construction and development. They help guide builders on where to place buildings, yard features, utility lines, and other important elements when constructing new communities.
Ensuring accurate property descriptions
A survey can also ensure you have the proper dimensions of the property. This can guide you when selling your house and listing it on various selling platforms.
How to obtain a property survey
The process of obtaining a property survey is fairly simple. Here’s how you’ll go about securing one for your property:
Hiring a professional surveyor
To get a property survey, you’ll need to find a local surveying company. Your real estate agent may have a recommendation for a good surveyor, or your lender could recommend one, too. You can also ask friends, family members, and colleagues — particularly those who have recently bought a house.
Reviewing previous survey documents
You may be able to use an old survey, as long as no changes have been made to the home since it was conducted. If this is something you’re considering, ask your real estate agent to confirm that the property is still as is. Then, talk to your title company. They’ll need to sign off on the old survey before they can issue title insurance.
Considerations when commissioning a survey
Before commissioning a survey, make sure you understand the costs, timeline, and process. Here’s what to consider if you’re planning to get a property survey done.
Understanding survey fees
Hiring a land surveyor for property purchases will come with a survey fee. According to HomeAdvisor, a property survey typically costs between $376 and $767 (though costs and types of land surveys can vary quite a bit by location). You’ll pay the survey fee at closing.
You may want to get quotes from a few companies to compare prices. The cost will also depend on how much time it takes for the expert to complete your survey. If you hire a local surveyor and buy a relatively small home on a flat property that has extensive public records, your costs will be on the lower end of the price range. You’ll pay more if you hire someone who needs to spend a lot of time traveling, searching for public records, and assessing your large home.
Timeline and preparation
Property surveys don’t typically take more than a few hours. How quickly yours will go depends on your surveyor’s availability and workload, as well as the type of survey you’re having done. Typically, you can expect your survey to be completed within a week or two of ordering one.
Choosing a qualified surveyor
The importance of accurate land surveys cannot be overstated, so it’s critical that you select a qualified and experienced surveyor to handle yours. Research local surveying companies in your area, and ask your title company, real estate agent, loan officer, and other people you trust for recommendations. You can also check online reviews and Better Business Bureau ratings to learn more about how a surveyor conducts business.
Legal and regulatory aspects
Property surveys might play into your personal real estate transaction, but they also play a role in the bigger community and state picture, too.
Compliance with local laws and regulations
Surveys are technically legal documents, so they’ll need to comply with local laws and regulations. If you’re not sure what those are, ask your real estate agent or attorney about your state’s legal requirements for property surveys. They can help you better understand how surveys are conducted and used in your area.
Surveyors are also typically state-regulated, so they must pass certain tests and have a state license to do business. Always check that your surveyor is properly licensed before hiring them.
Role in zoning and land use planning
Builders, municipalities, homeowner’s associations, and other organizations often use surveys to plan new projects and developments. They are also often the basis for zoning regulations, which dictate how properties can be used and changed down the line.
FAQs
Property survey fees vary widely based on the property size, location, and type of survey required. Typically, prices range from a few hundred to several thousand dollars.
You might be able to use an existing survey if it’s recent and accurately reflects the current state of the property. In some cases, though, legal or lender requirements may necessitate a new survey.
A boundary survey determines the exact boundaries of a property, while a topographic survey provides detailed information about the natural and man-made features of the land.
ALTA/NSPS surveys are comprehensive and meet specific standards, and are often required for real estate transactions, especially in commercial real estate, to provide detailed information to all parties. Title companies usually require them before they will issue title insurance on a property.
To get ready for your property survey, provide any existing property documents you have, such as previous surveys, deed descriptions, and any known encumbrances. These will help the surveyor in their work.