As expensive as real estate is today, the Mortgage Survey is well worth the investment.
- Protection of your investment: A mortgage survey is a critical step in protecting your investment in a property. It can identify any potential issues with the property, such as boundary disputes or encroachments, that could affect your ability to sell or borrow against the property in the future.
- Identification of legal issues: A mortgage survey can also identify any legal issues that may affect the property, such as zoning violations or outstanding liens. This information can be crucial in helping you to make an informed decision about whether to purchase a property.
- Identification of hazards: A mortgage survey can identify potential hazards on a property, such as flood zones or wetlands. This information can be important in helping you to assess the risk of owning a property and make appropriate decisions about insurance and other risk management strategies.
- Verification of property boundaries: A mortgage survey can verify the boundaries of a property, ensuring that you know exactly what you are buying and that there are no disputes with neighbors or other property owners.
- Determination of property size and location: A mortgage survey can determine the size and location of a property, which can be important in determining property taxes and other financial obligations.
- Identification of improvements: A mortgage survey can identify any improvements made to a property, such as additions or pools, which can affect the value of the property and your ability to borrow against it.
- Compliance with lending requirements: Many lenders require a mortgage survey as a condition of lending. Without one, you may not be able to obtain the financing you need to purchase a property.
- Protection against fraud: A mortgage survey can protect you against fraud by ensuring that the property you are buying is actually the property that is being sold.
- Assistance in negotiating price: A mortgage survey can provide valuable information that can be used to negotiate the price of a property, such as the value of any improvements or the existence of any potential issues.
- Peace of mind: Ultimately, a mortgage survey can give you peace of mind by providing you with the information you need to make an informed decision about purchasing a property and by protecting you against potential problems in the future.
It’s important to note that the above are general points and may not be applicable to all situations and may vary by region. It’s always recommended to consult with a licensed land surveyor for a more accurate and localize advice.
Tucker Engineering is a civil engineering and land surveying company with more than 25 years of experience in Alabama. We have a team of highly experienced and skilled surveyors and engineers that will assess you and give you a personalized quote for your property. Ready to get started? Contact us today!