Land title surveys are a critical part of the commercial real estate purchasing process; however, not all surveys are the same and this is why ALTA land title surveying is the most widely recommended.
Thorough ALTA land title surveys document not only the basic information about property boundaries, but they also provide valuable and useful details that lenders and buyers alike can refer to when determining the current or future fitness of a property for a certain use.
What Is The Need For ALTA Land Title Surveys?
Although general property boundary surveys are faster and less expensive, these surveys only confirm property lines and little else.
Conversely, a detailed ALTA land title survey includes additional information such as easements, right of ways, improvements such as fences, roads, and trails, property access points, zoning and flood zone classification, and much more.
ALTA surveys also indicate where more research must be done to determine fitness for a particular use if certain recorded details are missing.
This is all information that any commercial buyer with a plan in mind should want to know before committing to the purchase.
It is also information that many lenders require according to what the proposed use of the property is.
ALTA Land Surveys Ensure Purchase Has Been Researched Well
Based on this information, all of which can be efficiently accessed with ALTA land surveying, lenders and buyers can ensure that the purchase is a well-researched one that will eliminate the possibility of legal or zoning problems later.
Additionally, both parties know ahead of time if there are any outstanding violations that must be dealt with, and if so, what correcting those violations will require.
Buyers can then plan accordingly, even if that means looking elsewhere for a more suitable property with fewer hidden title or boundary concerns.
Eliminate Purchase Problems With an ALTA Land Title Survey!
When purchasing a commercial property, it is essential that buyers know every positive and negative factor about it and how all of that will affect their plan for actually using the property.
The last thing any investor needs is to find out after the fact that they cannot move ahead on that plan due to zoning, safety, boundary, or other concerns.
Considering this, and the fact that it may be impossible to get lending without total transparency about a property, ALTA land title surveys are the best solution.
With ALTA land title surveying, there is nothing left to chance as everything right - and wrong - with a property will be uncovered.