If you’re buying a new home, you’re no doubt feeling the burn – it’s an expensive endeavor. Many people look for ways to cut corners when they’re involved in such a major purchase, but skipping the survey is almost never a good idea. Obtaining a survey can provide you with crucial information that can help ensure your continued satisfaction with your future home sweet home.
The Survey
Surveys are performed by licensed professionals who are regulated by the State of New Jersey. The survey will delineate all structures and above-ground improvements made to the property (including fences), will identify all easements that are in place and will calculate the property’s dimensions – along with its exact boundaries (which can sometimes yield surprising results).
While surveys are typically required by lenders, there are six other important reasons to get that survey:
1. Real Estate Boundary Lines
A survey will determine the real estate’s boundary lines, which will provide you with a written picture of exactly where your property begins and ends. The survey may also provide you with a metes-and-bounds description (typically employed when the area is irregular), which will describe the area via courses, distances, and natural or artificial monuments.
2. Certifications
The survey should include a certification that no boundary-line discrepancies exist between your property and any adjoining properties. This can go a long way toward minimizing future disputes with your neighbors. You don’t want to go into your new home with issues that prevent you from putting up a fence or adding trees.
3. Easements and Right-of-Ways
The survey will outline all easements and right-of-ways, which will inform you regarding any liberties (if there are any) that others may take on your property. For instance, your property could have an easement – such as allowing your neighbor to walk or drive across it – that runs with the land. Unfortunately, this means that it’s meant to be enforced against future property owners (like you). It’s always in your best interest to know before you buy.
4. Encroachments
Your survey will depict any encroachments, party walls, or joint driveways on the real estate. If your fence is on your neighbor’s physical property (or vice versa), for example, it’s best to know that right up front. Often, there are responsibilities associated with such circumstances.
5. Utility Easements
The survey will map out all utility easements and pipe, wire, drain, cable, pole, and line placements. Some of this you’ll already be aware of, but some of these placements are more difficult to pinpoint. If you need to have work done or simply want to work in your yard, this can be valuable information.
6. Nondisclosures
The survey can help uncover deficiencies or nondisclosures in the title that should be remedied before proceeding with closing. This could include liens placed on the property. As you can see, a survey is vital when you are looking into buying a home.
If You Are Purchasing a New Jersey Home, Call 201-498-9768 for More Information Today
Buying real estate is an important endeavor that necessitates professional guidance. An experienced real estate attorney will help you navigate toward successfully purchasing a home that’s right for you. John L. Schettino Law is here to help, so please contact or call us at 201-498-9768 for a free consultation today.