There are 2 choices when considering having a survey performed. You can either get a complete Boundary Survey, or a Surveyors Real Property Report. Let’s look at the Pros and Cons of the Boundary Survey:
Pros:
- All Property corners are located – the monuments are verified, reset (if needed) and marked for homeowner to be able to clearly see the survey monument.
- Shows recorded easements on the drawing.
- Shows all improvements – including fences, retaining walls and items close to the property lines on the drawing. The drawing will provide measurement details pertaining to the location of those items as well.
- Can be used for building fences and other improvements, which means you can use the Boundary Survey drawings to get your permits for performing work on your property.
- Survey coverage is given to both the Buyer and Lender from the title company so that if your neighbor tries to take part of your land, your title company may be more likely to provide you with legal representation, assuming that it was not excluded in your title insurance policy.
Cons:
- More expensive (starting from $375 – $495) because performing a Boundary Survey takes easily double the time that a SRPR takes, it is more costly.
- More notice is needed because it takes longer to perform, more time is needed to complete the survey. For a rush, it takes 48 hours to complete, but standard turnaround time is 5 business days.
The Boundary Survey shows the condition of the property along with all of the details pertaining to the property. Having a Boundary Survey performed by a licensed land surveyor will “Make it Known, What you Own”.
Information provided should not be considered legal advice and all buyers, agents and title companies should consult their attorneys for legal advice.