Dealing with properties comes with a huge set of complicated ideas and terms, along with financial dealings. One particular thing that often confuses people is “property survey”. What are property surveys? A property survey is basically something which gives a detailed description of the land and its physical features. The boundaries of the property, too, find a mention in the property survey. A property survey becomes important as it has all the details about the property mentioned. It makes sure that the numerous disputes that often arise between neighbours regarding encroachment of property do not take place and even if they do, they get sorted quite easily. It is advised that whenever there is a change in the ownership of a property, a property survey be conducted.
There are, majorly, two kinds of residential property surveys: House location or “Drive-By” survey and Detailed Survey.
1. House Location/ Drive-By Survey
This survey is the most basic form of property survey. Moreover, it is the least expensive survey in the market as well. The house location survey, as the name suggest, shows the location of the house and other structures that are located on that particular property. House location survey is required by mortgage lenders as well as for the deals that include land transfers.
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2. Detailed Survey
This survey, too, is quite self-explanatory. It involves a detailed description of the property. The survey includes marking the property with metal or wooden stakes while keeping precise measuring in mind. Detailed surveys are usually more expensive than the house location surveys as they require much more effort and analysis. For legal matters and property-related disputes, it is advised that one go for a detailed survey as it has almost all the information that is required to solve the case really easily and quickly.
Who can conduct a property survey?
This is one question that seems very basic and at the same time, is very legtimiate as well. Unlike popular opinion, not everybody can conduct a property survey. Even if they are capable of doing it, chances are that it would not be recognised as being legitimate by the court of law if the surveyor is not a licensed one. A property degree and experience is required for a person to be eligible to conduct property surveys. After obtaining the license of being a property surveyor, the individual might also opt for a professional certification. Property surveyors need an in-depth training in the Global Positioning System (GPS) technology. It forms the backbone of any property survey and thus is pivotal for the knowledge base of any property surveyor. Thereby, if you are thinking of hiring a property surveyor, then you must make sure that the surveyor is a licensed one as otherwise, their surveys would not be considered valid by the court in the cases of dispute.
When is a property survey required?
A property survey is required majorly whenever there are any legal disputes involved regarding the ownership of the property. Further, they are required if any deals regarding mortgage or land transfer are involved. Some insurance companies, too, ask for a property survey to be done.
A property survey thus makes the workings of a property and its ownership pretty easy and helps in preventing any future hassles.
If you are looking for a property surveyor in Greater Toronto area, then Avanti Surveying Inc. might be your best deal. Their state-of-the-art equipment and well-trained staff are highly equipped to conduct property surveys of all kinds.