Surveys
Do I Need a New Survey?
The mortgage lender may require a current map or survey of the property. From the lender's perspective, the basic purposes of the survey are to determine if the property is located in a flood zone (thus requiring flood insurance), if any closure errors, minimum square footage violations or property line encroachments exist, or if the improvements on the property violate any set-back requirements stated in the restrictive covenants. SURVEYS ARE RARELY REQUIRED BY THE LENDER.
Our title insurance company can give the lender and you full survey coverage even though a new survey has not been prepared. However, your Title Insurance coverage will take exception to matters that are shown on a current survey and will not provide coverage as to matters of survey created after the date of the policy.
Note that my office cannot determine the location of any improvements located on the property including the dwelling, driveway and outbuildings not shown on an existing survey and, therefore, cannot advise you as to any title issues that may exist. If you decide you want a new survey, please allow two weeks or more for the surveyor to prepare the survey.