There are numerous considerations when purchasing property in Florida – and one of the most important, which often goes overlooked, is the need for a professional real estate survey.
As the name suggests, real estate surveys officially establish the borders of a property, as well as describing features and buildings on the land. These allow you to purchase a piece of land while knowing exactly what you’re getting – and potentially avoiding some problems later on!
The Importance of Florida Real Estate Surveys
Property boundary disputes are surprisingly common in real estate. More than half of professional realtors will be involved in a property boundary dispute during their career, and that can turn into a legal nightmare for realtors, buyers, and sellers alike. This is true of both residential and commercial properties.
Depending on the type of survey, and how extensive it needs to be, the report could cover:
- The exact boundaries of a property
- Descriptions of other residential construction, such as fences, pools, sheds, etc
- In-depth reports of physical assets on commercial/industrial properties
- Topographical surveys of features such as elevation and terrain type
This information can be useful for buyers in and of itself, as well as helping to prevent any legal disputes later on.
It’s also worth mentioning that some believe title insurance can take the place of a land survey or includes a survey as part of the process. This is not true! Title insurance protects against defects in a property, but there is no survey conducted when obtaining title insurance. In fact, most title insurance policies specifically exclude coverage of boundary disputes.
The only protection against a boundary dispute is having a professional Florida land survey conducted beforehand.
The Risks of Not Conducting Land Surveys
The biggest risk is of a land border dispute arising. This is commonplace to the point that up to 1/3 of homebuyers will experience a border dispute within the first year of owning the property. A proper survey conducted before purchase can usually prevent this.
In addition, there’s the risk that the buyer simply isn’t getting everything they’re paying for. If the actual borders are smaller than advertised, the buyer ends up overpaying.
Beyond those reasons, a thorough land survey also provides vital information that can prevent misuse or misunderstanding of the property’s nature. The survey guarantees that you or the buyer know exactly what’s for sale, and what its current state is.
Real Res Are Your Florida Land Survey Partners
With a history going back to 2001, Real Res has established itself as one of Florida’s premiere land survey and title research companies in the state. We are licensed to work in all counties and municipalities in Florida, and our long history gives us the experience necessary to navigate local bureaucracy in all these areas.
We also conduct lien searches and obtain HOA estoppel letters, so that buyers will be fully informed of all fees and extra costs attached to a property that may not be immediately obvious.
If you’re buying property in Florida, contact us to learn more.