A few days ago I was about to hire some people for an ALTA survey, but I wasn't sure what things I have to look for to track their work.
So I just consulted a friend of mine, experienced in this field, and I thought that many people out there are unaware of the facts that why they should have an ALTA survey, or what things they should consider while hiring people to do their job. Here are some facts I'm sharing that you can add to your knowledge.
What is an ALTA survey?
ALTA survey is a comprehensive boundary survey that adheres to the national surveys adopted by the American Land Title Association and National Society of Professional Surveyors.
ALTA survey is specifically designed to meet the needs of lenders, corporations and title companies for the development of commercial properties.
This survey contains data specifying boundary lines location of the main building including improvements, location of ancillary buildings, and the identification of utility and municipality easements.
Why it is always advisable to have an ALTA survey before purchasing a property?
It is always recommended to have a survey of the land property before you’re going to buy it to avoid unwanted disputes such as legal/illegal documentation of the property. ALTA survey depicts parcel boundaries, improvements, easements, rights-of-way, and other elements that may impact land ownership, such as encroachments and unrecorded interests or uses.
If you are all set to purchase a commercial property then you should be assured with any incorrect assessment of the property. As it can cause a major risk while pacing forward towards plans.
What is the need and importance of the ALTA survey while purchasing a property?
An ALTA Survey is a survey prepared by a licensed surveyor by the detailed standards adopted by the American Land Title Association (ALTA) and the American Congress of Surveying and Mapping (ACSM). It helps with subdividing land properties and truly reflects the actual size of the property. ALTA survey cost can be seen as a profitable investment as it helps to solve many conflicts beforehand.
An inaccurate assessment of the variances can cause financial pain in the future. While investing in commercial real estate, the investor should choose the right location and then have a fair idea about the market rates. You should not pay a very high price based on speculations, which is often used by the developers.
Do you need help to find a low Toronto land survey cost? Here is the suggestion to hire professional surveyors at Genesis Land Surveying Inc. Whether it's determining the legal location of the property boundaries, or carefully examining and measuring the diverse aspects, they are specialized in a wide range of survey services.
