Mortgage Survey
The Mortgage Survey (also Referred
to as a Mortgage Report or Mortgage Certificate)
Aside from showing a prospective buyer the home they wish to
purchase, a mortgage survey is arguably the most affordable
means for a buyer to evaluate what they are buying. A
mortgage survey aids a buyer by disclosing, prior to closing,
visible structural encroachments, platted easement
restrictions, substantial closures in metes and bounds
descriptions, potential errors in a legal description;
confirms the property address matches the legal description;
and can determine flood hazard status (when requested).
How a Mortgage Survey Benefits the Buyer:
- Disclose possible errors in the legal description
for the property address in the lending documents.
- Depicts visible encroachments on the property.
- Depicts platted easement locations, which may
limit or restrict future improvements to the
property.
- Depicts the size and shape of the property and how
the home is situated within the property boundary.
- Discloses substantial closure errors in Metes and
Bounds legal descriptions.
- Depicts alley or road vacations.
- Depicts building dimensions, decks, pools and
sheds. Building dimensions may be compared
with the assessor’s office records to identify
whether undocumented improvements were made to the
property, which could impact the buyer.
- Mortgage Surveys are affordable. Costs
typically range from $95 - $200 for platted
subdivision lots, and $170 - $270 for Condominiums
(depending upon location).
Additional Resources:
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