Not All Land Surveys are Created Equal and Requesting the Wrong Type Could Delay Your Closing!
We’ll breakdown the various types of surveys and what’s included in each.
When I first got into real estate I was so overwhelmed just by looking at a survey and trying to understand the different types of surveys. Not all surveys are created equal.
1. First, you have a Boundary Survey, also called a Category 1B survey.
2. Then you have a Title Survey, also called a Category 1A survey.
3. And, you also have an ALTA survey.
Whenever you are purchasing a piece of land, a title company is going to require that you get a Title Survey, also called a Conveyance survey or a Category 1A survey. This is going to show not just the boundaries of the property, but it’s also going to show any structures on the property, any easements attached to that property or the floodplain. If you just simply call a survey company and order a survey without specifying what you want, they might just think you’re going to need a Boundary survey and if you do that it could compromise your close date because a title company won’t accept that. They are going to need a Category 1A survey.
You also have an ALTA survey. What does ALTA stand for? ALTA stands for American Land Title Association and they have a few different criteria for these surveys which are commonly used for commercial properties. In addition to the boundaries and the easements attached to the property or the floodplain, an ALTA survey is going to show the zoning as well as the parking ratio which is required per those city’s requirements. We typically don’t use ALTA surveys for land that we buy because we are buying land that is outside of a city’s jurisdiction.
Feel free to reach out to us with questions or other topics you’d like to see covered.
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