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Should I have a survey performed?

QUESTION:

I am buying a vacant homesite in Cape Coral, all cash, with no financing involved. I don’t want to incur the added expense of a survey, since I will need one later when I apply for construction financing. And, besides, I’m sure the survey wouldn’t show any problems. My friend says she would never buy real estate without a survey. Is there any good reason why I should get a survey before closing on my purchase?

ANSWER:

In most situations, not obtaining a survey certified to you as the buyer would be fairly risky business. The cost of a survey is minimal when compared to the potential loss and cost if the survey reveals a problem. There are many different types of surveys. Each kind has a specific intent and purpose as to what is to be covered.

From the standpoint of purchasing real estate, you would want at least a Land or Boundary Survey. The primary purpose of such a survey includes determining the perimeters of the land by establishing or re-establishing the corners, monuments and boundary line. A Boundary Survey will locate fixed improvements on the land being surveyed as well as any neighboring improvements which might encroach onto the land being surveyed.

The survey would also show any easements or other matters derived from the subdivision plat if there are any. If there are other easements shown in the title insurance commitment given to the buyer, then the buyer should ask for these also to be located and plotted on the survey.

Even in older subdivisions, such as Cape Coral, it is not unheard of to have a survey reveal problems such as: the neighbor’s pool is built on the property being purchased; the neighbor’s side fence line runs three feet onto and along the whole length of the property being purchased; or the homesite you thought you were buying is not for sale because it turns out that the "for sale" sign was placed on the wrong vacant lot.

Obtaining a current survey certified to you, the buyer, is worth the expense even if you do have to update it again when you build. It is always better to learn of a problem before you complete the purchase.

Also, if the survey is further certified to the title insurance company and to the title insurance agent, your title policy coverage can be expanded to include coverage for matters which would be disclosed by an accurate survey meeting the required specifications for surveys. This additional insurance coverage will take the financial burden off an owner in the event a problem is later discovered.

This information is not intended as specific legal advice to anyone and is based upon facts that change from time to time. Individuals should seek legal counsel before acting upon any matter involving the law.

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