Experiencing Boundary Blues? ALTA Surveys to the Rescue!
As a property owner or potential buyer, you may know the importance of surveys when considering a commercial property purchase or financing. In this regard, do you know about ALTA Surveys?
These comprehensive surveys adhere to specific standards the American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS) set forth.
These surveys provide detailed information about a property's boundaries, improvements, easements, and other factors that may impact its value.
In this blog post, we will explore what the survey is, why it is crucial, and how it differs from other types of surveys. Whether you are a property owner, a potential buyer, or a lender, understanding these surveys can help you make informed decisions about commercial property transactions in Oklahoma.
Defining ALTA Survey
ALTA stands for "American Land Title Association," a national organization representing the title insurance industry.
It is a type of survey that adheres to specific standards set forth by the ALTA and the National Society of Professional Surveyors (NSPS).
This type of survey is helpful for commercial properties or properties that a lender is financing.
What Is the Use of This Survey?
The primary use of ALTA survey is to provide a clear and accurate picture of a property's boundaries and any potential issues that may impact the property's value. This survey is beneficial for commercial properties, where minor discrepancies in property lines or easements can significantly affect the property's value.
For example, the survey may reveal that a property has an easement for a utility company to access the property. This information can be crucial for a potential buyer or lender to estimate the property’s value.
In addition to providing information about boundaries and easements, this survey may include information about zoning regulations, flood zones and other factors that may impact the property.
How Different Is It from Other Surveys?
This survey differs from other types of surveys in several ways. One of the main differences is the level of detail this survey offers.
The survey is much more comprehensive than a standard boundary survey, including information about improvements, easements and other factors that influences the property.
Another difference is the standards that the survey must adhere to. This survey must adhere to specific standards set forth by the ALTA and the NSPS. These standards can ensure that the survey is accurate and comprehensive and provides the information necessary for a potential buyer or lender to decide about the property.
Finally, the survey is typically more expensive than other types of surveys due to the level of detail and the standards it must adhere to. However, the cost of this survey is worth the value of its information.
Maximize Your Property's Value - Schedule Your ALTA Survey Today!
If you're considering purchasing or financing a commercial property, working with a qualified surveying and mapping company with experience conducting ALTA surveys in Oklahoma is essential. Carroll Surveying and Mapping is a leading provider of land surveying services and we have the expertise necessary to conduct accurate and comprehensive surveys.
Contact Carroll Surveying and Mapping today to learn more about our ALTA surveying services and how we can help you make an informed decision about your commercial property purchase or financing.