Hiring the services of a licensed property surveyor is seldom a cheap undertaking. This is because of the importance attached to the services that the mentioned professionals provide to the general public.
Individuals looking to invest in residential property may need to enlist the services of professional land surveyors at different stages of the property acquisition process (and even after such property has been acquired). Discussed in this article are a few scenarios that create the need for a professional land survey when looking to purchase residential property.
Applying For A Mortgage
A large number of individuals rely on mortgage financing to pay for their acquisition of residential property. Before mortgage service companies agree to finance the acquisition of residential property, prospective homeowners need to provide evidence that existing structures on the desired property have been erected in accordance with local building codes and zoning regulations. Prospective homeowners also need to prove the absence of encroaching structures on the property in question. The only way to satisfy the mentioned requirements is to pay for a mortgage survey from a licensed property surveyor.
It is important to point out that the difference between a mortgage inspection and a mortgage survey. The former is done by a representative of the mortgage company, while the latter is left to professionally-trained property surveyors.
Upgrading Residential Property
It is only logical for a new homeowner to have ambitious plans with their new piece of real estate. Examples of the ambitious plans referred to include, but they're not limited to the following;
- Improving the structural condition of existing buildings within the property
- Erecting new structures within the boundary of the property
Whether one is making improvements to existing structures or building new structures, he or she needs the professional services of a property surveyor. The surveyor will be in a position to determine and to advise whether the intended improvements on the property comply with local by-laws and other relevant pieces of legislation.
Settling Boundary Disputes Between Neighbours
Many times, making improvements on newly-acquired residential property pits neighbours against each other.
For example, boundary disputes are common when a new homeowner intends to put up a dividing fence where none existed. Such disputes are often based on the exact location of the common boundary between adjacent properties.
Being that a dividing fence should ideally be erected along this boundary; affected neighbours would need to pay for a boundary survey so as to establish the common boundary, thus resolving the dispute.