ALTA Vs. Boundary Survey: Unmask Land Mystery With Precision
Land surveys can be tricky territory for property owners and real estate developers. Understanding the nuances of these land surveys could be your key to unearthing potential property issues and optimizing your investment. This article will contrast ALTA and Boundary Surveys and offer insights into the factors affecting ALTA Survey costs.
Drawing The Line: Key Difference Between ALTA Survey And Boundary Surveying
Understand the key difference in the following section:
Detail & Scope: Exploring the Intricacies
An ALTA survey, named for the American Land Title Association that sets its rigorous standards, is an extensive examination of a property and its surroundings. It goes beyond the scope of a regular boundary survey, which primarily demarcates property lines, to include details like easements, rights-of-way and possible encroachments.
Stringency by Standards: Following Rigorous Guidelines
While boundary surveys can abide by various local standards, ALTA follows stringent nationwide standards to ensure consistency. That means ALTA Surveys generate universally respected results, making them indispensable for complex transactions like commercial properties.
Property Types: Decoding the Characteristics
Most residential property purchases require a boundary survey. However, due to their comprehensive nature, ALTA is preferred for commercial properties where potential risks can lead to significant financial losses.
Surveying with Purpose: Showcasing the Different Objectives
While a boundary survey is sufficient for simple tasks like building a fence, the American Land Title Association Survey provides in-depth information for high-stake transactions. For instance, it identifies zoning classifications, flood zone status and improvements on the property, ensuring comprehensive due diligence.
Untangling Title Issues: Addressing Property Ownership Challenges
These land surveys also reveal title issues that may affect ownership. Although informative, boundary surveys cannot delve deep into potential legal hiccups.
Time is Money: Analyzing the Time-Consumption and Cost Factors
Given the vast amount of information they provide, ALTA surveying services naturally consume more time and cost more than boundary surveys. However, this upfront investment often pays off by preventing costly surprises.
Cracking The Cost Code: Factors That Determine The Expense Of An ALTA Surveying
Determining the cost involves considering various factors unique to the property and the requirements of the party requesting the survey. Below, we elaborate on the main considerations:
Size of the Property
The extent of the land area directly impacts the cost. Larger properties demand more time and resources to examine, which escalates the survey's cost. The complexity increases if the property is spread across varied terrains or other structures, influencing the price.
Disputed Properties
Properties with existing boundary disputes or legal conflicts often require additional research and documentation. Surveyors may need to study legal records, consult with attorneys or involve local law enforcement. This additional work can lead to an increase in the cost of the survey.
Property Location
The property's location also plays a significant role in determining the cost. For instance, a property in a densely populated urban area may be more challenging to survey due to traffic, limited access and multiple adjoining properties. Conversely, rural properties may come with their own set of challenges, like difficult terrains, thereby increasing the cost.
Tallying with Existing Records
Additional research is necessary if existing property records are ambiguous, outdated or missing. Surveyors might need to access archival records or conduct field investigations to reconcile discrepancies. These additional tasks contribute to a higher survey cost.
Listed Optional Table A Items
This survey includes a list of optional Table A items that the client can request to be included in the survey. These items, such as identifying and marking access roads, location of utility features or obtaining professional liability insurance, each come with an additional cost and are added to the total survey fee.
Title Reports Matters
“A title report provides a history of the property, including any liens, easements or encumbrances.” If the report reveals potential issues, further investigations are necessary to understand these concerns and resolve any disputes. These extra measures will invariably affect the survey cost.
Taking Expedited Survey
Clients may require the survey results within a shorter time frame. In such cases, avail of expedited services, but they come at a premium cost. The urgency requires more resources and possibly overtime, driving the survey cost.
Preserving the Survey Record
In certain jurisdictions, a record of the ALTA Survey may need to be filed with local authorities. This requirement demands additional time for preparing the documents and processing the filing, which adds to the overall survey cost.
Unlock The Land Secrets With Our ALTA Surveyors
Deciphering the fine print of property details can be a manageable task. Your property is a significant investment and you deserve all the information at your fingertips. Whether you require a boundary survey or a detailed ALTA Survey in Oklahoma, rely on the experts. Carroll Surveying and Mapping offers the highest quality, professional surveying services. Trust us to guide you in making informed decisions about your property. Contacting us for your survey needs!