What is an ALTA survey?
An ALTA survey is a boundary survey for Title Companies and/or Lenders for the issuing of title or mortgage insurance. The survey is to meet the minimum precision and detail requirements established jointly by the American Land Title Association (ATLA) and the National Society of Professional Surveyors (NSPS). Another organization involved is the American Congress on Surveying and Mapping (ACSM). ALTA/ACSM surveys meet the highest standards of surveys and is part of due diligence when property is being transferred or refinanced.
What is included in an ALTA land survey?
ALTA specifies the data to be shown on the ALTA land survey and this includes boundary lines, location of the main building including improvements, location of ancillary buildings, and the identifications of easements (access rights by service companies such as water, gas, telephone, railways, and other utilities). There is also the option to include other items such as underground utility location, height of building, square footage of the building and underground structures. Issues that are commonly identified by and ALTA survey can include: differing legal descriptions, legal descriptions with mathematical discrepancies, unexpected easements/encroachments, boundary disputes and zoning issues.
When is an ALTA survey recommended or required?
When dealing with commercial property, a Title Company/Lender may require you to perform an ALTA survey when a commercial property is being refinanced or exchanging hands. This is done to remove any “risks” such as encroachments, easements, and boundary line disputes. When buying a piece of land an ALTA survey might not be required but is definitely recommended. There is always a chance that a survey on vacant land is either non-existent or outdated. This comes with unforeseen boundary or encroachment issues that are unknown at the time of purchase. An ALTA survey will resolve any of these issues before you make a costly purchase.
How much does an ALTA survey cost?
An ALTA survey cost varies depending on several factors. Some of these factors include size and uniqueness of the property, difficult terrain, property location, etc. At Scalice Land Surveying we offer ALTA/NSPS surveys at an extremely competitive price and in a shorter time frame. We do this by utilizing the latest in equipment/technology and are very diligent in our research practices. This allows our crews to have the best and most up to date information possible before they leave the office. It gives our team the ability to pick up title problems quicker and more efficiently. Over the years our surveyors have completed countless ALTA surveys and have an intricate knowledge of what the title company and real estate attorneys are looking for when closing on the property.
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