At Moon Meeks and Associates, Inc., among the services we provide to our clients are ALTA surveys in Muscogee County, GA. But what exactly do these surveys entail, and what are they used for?
ALTA land title surveys are comprehensive boundary surveys that are conducted in accordance with the national standards set by the American Land Title Association (ALTA) and the National Society of Professional Surveyors (formerly known as the American Congress on Surveying and Mapping). These surveys have been specifically designed to fulfill the needs of banks, lending institutions, title companies and various corporations as part of the development of commercial properties.
ALTA surveys are known for having a stricter set of requirements than most other boundary surveys. They also provide some of the most detailed looks at properties you’ll find in any type of survey. An ALTA survey shows the boundaries of the property as well as the location of various improvements on the property, such as roads, fences, structures, utility lines and easements.
While an ALTA survey will likely cost you more than other types of surveys, and it is not mandatory for most types of land purchases, there are some circumstances in which it can make sense to make the investment. Here are a few examples of those circumstances.
Commercial real estate transactions
If you’re buying or selling commercial real estate, you’re going to want an ALTA survey as part of the transaction. Many title insurance companies or lenders will require such a survey to be performed in these transactions anyway, because commercial real estate transactions often have inherent survey risks such as encroachments, boundary disputes and easements not found in public records. Some of the information revealed in these surveys can make or break a transaction.
An ALTA survey will let parties to a commercial real estate transaction know whether there are any issues that need to be resolved and help ensure the property is free of risk before the sale goes through.
Purchasing vacant lots
If you’re buying a vacant lot, it’s also recommended that you seek an ALTA survey. You might only be required in such a case to use a standard boundary survey, but an ALTA survey can be beneficial in that it’s likely the land has either never been surveyed or, if it was surveyed, the survey was performed so long ago that the information (and the technology used to collect it) could very well be outdated.
Therefore, to be absolutely certain you uncover any potential ownership, boundary or encroachment issues before the sale goes through, it’s important to get the ALTA survey done so you’re able to pinpoint and resolve any such issues before you’re the official owner of the property.
Interested in learning more about the surveying process and when it makes sense for you to order an ALTA survey as part of your real estate transaction? We encourage you to contact the team of land surveyors at Moon, Meeks, Mason & Vinson, Inc. when in need of ALTA surveys in Muscogee County, GA and we will be happy to answer your questions.
Categorised in: ALTA Surveys