Whether you are buying or selling a home, it is critical that you are well aware of the property lines. Property lines are imaginary boundaries that divide one property from another. As a buyer, besides wanting to know exactly what you are buying, you will also need this information for any future work that you have done at the property such as having a fence installed or an addition built at the property. Below we discuss some important things to consider as they relate to property lines.
- Hire a land surveyor: The best way to understand the boundary lines for any property is to have a professional land survey completed. In hiring a land surveyor, you can be certain that the property survey is completed by a licensed engineer engaged in the business of surveying land. In addition to identifying the boundary lines for the property, a professional land survey will also show the size and dimensions of any other structures located on the property.
- A mortgage plot plan is not the same as a land survey: For buyers obtaining a mortgage to purchase a property, oftentimes the lender will provide a “mortgage plot plan”. This plan is essentially a drawing that locates the house and any other structures within the four corners of the lot. The cost of this plan is included as part of the buyer’s closing costs. It should be noted that a mortgage plot plan will not suffice when attempting to have any work done at the property, such as erecting a fence. As with other types of work being completed at the property, a professional land survey will be required.
- Never rely on a real estate agent for property boundary lines: It is not uncommon for property owners to point out their perceived property lines to their real estate agent. Although a real estate agent conveying this information typically has good intentions, this information is incorrect in a significant percentage of the time. With this said, it is always best to refer to a recently performed professional land survey.
For buyers considering the purchase of a property, it is extremely important not to assume a property’s boundary lines. Having a professional land survey will allow you to better plan any future work that you may want to have done at the property. Typically, any major construction at the property will require an updated land survey to accompany a building permit. Whether you are a buyer or a seller, the importance of an updated land survey must never be discounted. Do you have any real estate needs in South Florida? Contact Natasha at Live South Florida Realty, Inc. today!
At Live South Florida Realty, Inc. we have assisted many clients with their real estate needs. Are you looking to buy or sell a property in South Florida? Now more than ever, it is critical to have a qualified real estate team and the proper search tools behind you. Live South Florida Realty, Inc., has been a leader in the South Florida market for many years. Let our team of professionals assist you with buying or selling your piece of paradise today! In addition, our trusted “Florida Home Search” app is available on the Apple App Store and Google Play Store. With real-time MLS feeds, this app lets you set your own alerts to notify you as soon as a property meeting your needs hits the market. Furthermore, it will also let you know of recent closed sales in your area so that you may be even more educated on the market. Be sure to download this app for your smartphone or tablet today!