There is more than one type of land survey that you may need if you are buying or selling a property. Keep in mind that the survey must be conducted by a licensed land surveyor registered in the state where the parcel is being surveyed.
A residential boundary survey identifies the borderlines of the property on the ground, along with any existing easements or encroachments and determines whether there are any limitations on the property established by state or local regulations.
A mortgage survey is used by lenders, title companies and other parties in a transaction to determine if improvements to a property, such as driveways, sidewalks, garages, decks or swimming pools have encroached or spread across the recorded borderline to an adjoining property. Encroachment issues can delay a closing.
If you are considering buying or building on a cliff or hillside land, near a fault line or in a flood zone, you will want to be sure to ask for a Geological Report [1] to assess potential geological hazards before you proceed. (In California, the seller is required to provide a natural hazard disclosure report.)
A surveyor is a licensed engineer who typically locates all the permanent structures on the property and describes any existing or set monumentation at the corners of the lot.
The surveyor creates a map (or "plat") that depicts what was found or set with property dimensions and identifies the releationship of any existing structures to the boundary lines.
A typical survey may also show the location of the residence, fence lines, and any improvements that have been made to the property (patio, garage) to be sure that they do not encroach on an adjoining property.
A surveyor will also point out any established easements, access to any public rights of way and determine if there are any building setback violations.
The surveyor signs and stamps the map, which is considered a legal document, and in many states must be filed with the county land records system.
A geological engineer will review public geological surveys and map out the distance of a property to a known fault line and any other geological hazards, such as unstable ground that may be a threat to your investment.
Specialty engineers can also assess ground water and storm water management, slope instability, land fill conditions and make recommendations for water well and drainage pumping systems.
A boundary survey is not always required, but it is highly recommended before you buy, subdivide, improve or build on a parcel of land.
Different states have different requirements, but, if you are the buyer, it is to your benefit to know exactly how much land you are paying for. Surveyors often find defects that could lead to renegotiating the price of the property you are buying.
A fence that divides a property from a neighbor may not be built along the boundary line of the adjoining properties. The property's driveway may encroach on a neighbor's land. A neighbor may have built a deck that extends over the borderline. Issues like these should be addressed before you close a transaction.
The price of a survey is based on many factors, primarily the size and location of the property. Prices may vary from several hundred to several thousand dollars depending on the project and services needed.
If a title company sends its own surveyor to define the boundaries of the property, there will likely be a separate charge for that service. A basic geological report is around $100.
Generally the buyer pays for the survey as part of the closing costs, unless a different arrangement has been made with the seller prior to signing the purchase agreement.
Links:
[1] http://closingtalk.closing.com/community/learning-zone/article/geological-reports-0