An ALTA survey is a survey of a commercial property that is done by a licensed surveyor. This survey will show the boundaries of the property, as well as any easements or encroachments on the property. It is important for a buyer to know if there are any easements or encroachments on the property, as they may impact the use of the property.
What Is an ALTA Survey?
An ALTA survey is a detailed land survey of a commercial property. While a residential survey might show a lot line, an ALTA survey will show boundaries, easements, and other legal uses of the property.
ALTA stands for American Land Title Association. The ALTA Survey is their standard form for land surveys. The survey must be performed by a licensed land surveyor to meet the requirements.
Why Get an ALTA Survey?
If you are buying a commercial property, an ALTA survey is a must. The survey can reveal many potential problems that may be deal breakers. For example, if the survey reveals that there is an easement for a utility line that was not disclosed in the real estate listing, you may be able to back out of the deal.
Or, if the survey reveals that there are easements for a neighboring property owner to access their property, you may be able to negotiate a deal with the neighbors to have the easement removed. Another reason to get an ALTA survey is to protect your investment.
A detailed property survey will help you know exactly what you own. If there is a dispute with a neighbor over the property line, you can use the survey to settle the matter. You can also use the survey to help you plan for the future development of your property. For example, if you plan to add a new building or parking lot, you will need to know the exact dimensions of your property.
How to Get an ALTA Survey
Getting an ALTA survey is not complicated, but there are a few steps you need to take to ensure that you get an accurate survey.
First, you need to find a qualified surveyor. You can ask around for referrals, or you can look online. There are many surveyors who specialize in ALTA surveys.
Once you have found a qualified surveyor, you need to provide the surveyor with a copy of the legal description of your property. You can get this from your attorney or from the county recorder’s office.
Next, you need to provide the surveyor with a copy of your property’s title insurance policy. The surveyor will use this to verify the legal description of your property.
Finally, you need to provide the surveyor with a copy of your property’s plat map. This map will show the property’s boundaries and the location of any easements or other restrictions on your property.
Conclusion
An ALTA survey is a land survey that is conducted in accordance with the standards set by the American Land Title Association. This type of survey is typically used when someone is buying or selling a piece of property, or when a lender is making a loan for a property purchase. ALTA surveys provide detailed information about a property, including its boundaries, topography, and any structures or other features that may be on the property.
Before you invest in any property, you should ask Will’s Service Group to do the survey. We have carried out numerous commercial surveys, which helped our clients make informed decisions. So, contact us now for more details!
