ALTA Land Survey: A Basic Guideline For Beginners
In the real estate sector, experts often use the particular word ‘due diligence’ which describes the method of gathering data and mentioning it while purchasing or investing property. ALTA land tile survey is extremely important for numerous parties since this process help them during real estate transaction. Remember, the ALTA survey is not just a border or location study; it is more than that.
Experts consider the ALTA survey a gold standard in the land surveying sector. Numerous field experts use ALTA Land Title Surveys, including title, legal, finance, development, and design. Nowadays, most lenders across the states, including Oklahoma, mandate the ALTA survey to provide funding for commercial property acquisitions.
What Is An ALTA Survey?
ALTA stands for American Land Title Association, which refers to the national trade association of title insurers. Generally, the experts fulfill the association's requirements in this land survey process. But recently, the National Society of Professional Surveyors and the American Congress on Surveying and Mapping developed the criteria.
Through this survey, you can establish your land type and the boundaries. This survey various little but significant information, including waterways, rights of way and access points from adjourning properties.
What Information Does The ALTA Survey Provide?
● Easement and encumbrances
● Property Boundaries
● Land improvements
● Roads and property features
● Evidence of use by other parties
● Encroachments
● Zoning classification
● Flood zone classification
● Roads and property features
● Access and legal routes to the property
● Water Boundaries
● Existence of cemeteries
● Names of neighboring property owners
● Land improvements.
● Legal property description
Why Should You Perform An ALTA Survey Before Doing A Real Estate Transaction?
Typically, you cannot prove who owns a piece of land through American land tenure systems. But on the other hand, the ALTA survey provides a higher level of proof. The surveyors collect all the records to establish an entire history of a particular property, pursue detailed fieldwork to determine its exact boundaries and mark fences, walls and other boundary improvements. After gathering all the information, experts use them to create a map to illustrate the property.
What Are the Advantages of the ALTA Land Survey?
● To buy or sell commercial real estate property
● To purchase vacant land
● To resolve property disputes
● To measure property boundaries
● Land improvements
● Names of neighboring property owners.
● Roads and property features
● Encroachments
Your Landscape Expert
Doing an ALTA survey is essential if you are trying to get construction and a land development loan. You can also avoid legal problems when you have a clear concept of where your boundaries are.
This critical information will help you to reduce conflict with your neighbors. However, contact us at Carroll Surveying and Mapping in Oklahoma to get a quality ALTA Land survey and other types of survey according to your requirements.