Real Property Detail Survey
1.
What is a Real Property Detail Survey?
A Real Property Detail Survey is a legal document that clearly
illustrates the location of significant visible improvements relative to
property boundaries. (Improvements to be shown and outlined)
Over the years, the standards for Real Property Reports have changed. It
takes the form of a plan or illustration of the various physical features of
the property, including a written statement detailing the surveyor’s opinions
or concerns. It can be relied upon by the buyer, the seller, the lender and the
municipality as an accurate representation of the improvements on your
property.
2.
Who need a Property Detail Survey?
v
Property owners
3. Why Property Detail Survey
To be informed of:
·
The locations of improvements within the
property boundaries,
·
Any encroachments from adjacent properties, and
·
Property compliance with municipal requirements
v
Property Purchasers
To be informed of the boundary and improvement locations on the
property and any problems relating to the property boundaries.
v
Municipalities
To assist in determining compliance with by-laws and fire codes also in
the planning and development process.
v
Property Sellers (vendors)
To provide Protection from potential future legal liabilities
resulting from problems related to property boundaries and improvements.
v
Mortgage Lenders
To be informed of Conformance of improvements with municipal bylaws
and Problems that may have to be resolved prior to registration of the mortgage
v
Realtors
To provide a visual representation of the property for sale, Meet
requirements of the real estate listing/purchase contract, and Have information
to avoid delays in completing property transactions when a Real Property Report
is arranged early in the sales process
4.
How does a Real Property Detail Survey protect
you?
Purchasing a property may be the largest financial investment you ever
make. With a Real Property details Survey plan, owners are aware of any
boundary problems. They know whether their new home is too close to the
property line, or part of their garage is on their neighbour’s land, or vice
versa.
“Good boundaries make good neighbours!” Since legal complications may occur
if a sold property fails to meet requirements, a Real Property Report protects
the seller.
5.
What is the validity of a Real Property Detail Survey?
The Real Property Report is a “snap shot” of
the property on the date of the survey.
Changes are often made to improvements on a property
or adjoining properties. These may be new or modified fences, decks, driveways,
garages or other features. Only an updated Real Property Report can show their
location relative to property boundaries.
Changes to your title will also be shown.
Changes to your title will also be shown.
6. How much does a Property Detail Survey cost?
At Geomartins & Associate, we
encourage the public to discuss potential survey projects with experienced
Registered Land Surveyors prior to initiating any project. Discussions with an
experienced and Registered Surveyor about the specifics of the project should
be undertaken to develop a better understanding of the costs and the complexity
associated with the project. Some of the considerations that may impact costs
include:
1.
Availability of survey evidence defining
boundaries
2.
Current and historical title searches
3.
Other surveys in the area under consideration
4.
Travel and accommodation costs
5.
Application, endorsement, approval or record
searching fees.
This list of considerations is not exhaustive but should form the
basis for discussion prior to any project starting. It is incumbent on the
public and the members of the Association to discuss potential projects so that
a fair and reasonable value for the services being offered can be reached.
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