When making a difficult decision about purchasing a commercial property, gathering as much pertinent information as possible is necessary, and one way to do this is through land surveying in Mobile, AL. This information can be beneficial for all parties involved in a transaction, and the strict set of standards set forth by the American Land Title Association (ALTA) can serve as a protection for both sides further down the line.
What type of information do ALTA surveys reveal?
Digging deeper than a typical boundary survey, ALTA surveys provide comprehensive information about many aspects of a property. A client can obtain valuable information that includes the location of any boundaries or easements that might exist on the property, which could restrict the changes a future owner has the freedom to make.
This type of in-depth survey will also include any improvements that might have been made to the property, such as roads and rights of way to increase access to the property, which could have a direct effect on the overall valuation of the land. All of these individual pieces of information come together to form a coherent idea of what type of potential the land has, and this becomes particularly relevant when a property is designated for future commercial use.
ALTA surveying and commercial transactions
While a title survey is beneficial for providing a standard amount of information about a prospective property, ALTA surveys are much more extensive and can inform buyers of some of the more unique and nuanced characteristics of a property. ALTA surveys can also be used to analyze the amount of risk that is involved with any given property, which isn’t something that can be done with the basic data found in public records or titles. Having access to this enhanced information can literally make or break a sale, and a buyer’s interest in the property will either be reinforced and strengthened, or negated if they believe that the property will cause them problems in the future.
It is recommended that property sellers have ALTA surveys conducted to make sure that they are protected as well. A survey will provide a seller or lender with documented support that could prove helpful should any issues arrive in the future. Additionally, the seller will have comparison data that can either dispute or confirm any information that the buyer has obtained.
It is always in your best interest to make sure you are as protected as you can be, and an ALTA survey can be a great insurance policy for buyers and sellers alike. If you are in need of commercial surveying to aid in a pending transaction for a commercial development, contact the knowledgeable team at Polysurveying & Engineering. In addition to surveying in Mobile, AL for over 40 years, we travel to support the completion of jobs throughout the rest of Alabama, Florida and Mississippi, and will do whatever it takes to make sure you have enough high quality data to make sound decisions. Get in touch today to schedule a consultation.
Categorised in: Commercial Surveying
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