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Outer Banks Surveyors

Outer Banks Surveyors:

Not all lenders require that the purchaser obtain, and pay for an Outer Banks surveyor.  This is certainly isn’t something we recommend, as you may have no recourse.  It is recommended though that every purchaser authorize the settlement provider to obtain a property survey. It should be noted that the typical as-built survey provided may only shows the location of the house on the lot.  While the title insurance industry will generally not accept a title claim based solely on the property survey itself.  The survey will assist the purchaser in determining whether fences, trees or other such objects are properly located within the subject property.

What is a survey?

A survey is a map of the property’s land, structure and other improvements.  Some detailed and other not so much.  If prepared by a registered surveyor they must physically inspect the whole property.  Things like the location of the improvements, the size of the lot and the dimensions are a few examples of what shows up on a survey.  A survey will also show problems, but they not all worth terminating a deal over. For example, a survey might show that the adjoining owner is encroaching on the sidewalk or driveway.  These are some common things people come across.  A survey would also show if the property you are buying encroaches on the adjacent property. Some additional examples of survey issues include foundation, as-built surveys.

Banks and Surveys:

These days banks required surveys to be completed before lending the purchaser any money.  And more recently some title insurance companies began providing affirmative title coverage. This only benefits the lender, without requiring a survey. Because the title insurance company will protect the lender, many banks no longer require a survey as a condition of making the loan. Sometimes this causes people (like real estate agents, or even lenders) to mistakenly believe that a survey is not necessary.

Should I get a new survey?

In some cases a recent survey for a prior owner can be located. If the “old” survey has all the information needed for the closing, many people decide to proceed without purchasing a new one. Whether this is wise depends on the circumstances. Like if there are problems with the old survey a new purchaser has no claim against the “old” surveyor. To hold the surveyor responsible it is necessary to have a direct contractual relationship with that surveyor. The older the survey, the more potential exists for problems to have developed in the intervening time. Sometimes the only copy of the old Outer Banks surveyors information which has been added after the fact.  More so by people other than the original surveyor.

MARKET REPORTS:  Corolla - Duck - Southern Shores - Kitty Hawk - Kill Devil Hills - Nags Head - Manteo / Roanoke - Hatteras Island

outer banks surveyors and land surveying

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