A survey is a precise measurement of a property by a licensed surveyor, showing legal boundaries of a property and the dimensions and location of improvements. A survey will show the boundaries of your property, and whether there are any encroachments.
An encroachment is the intrusion onto property without right or permission. Such as a fence that is on the other side of your property (or inside, for that matter).
A survey should also indicate whether there are any easements of which you should be aware. An easement is the right to the use of, or access to, land owned by another. Typically, utilities and cable companies may have an easement so that they can repair pipes, wires, etc. on your property.
At a time when you’re already spending a lot of money, a survey can seem like a big expense. However, it’s far better to be aware of any issues before you buy a house so that you can make an informed decision about how much you’re willing to pay for it and, if necessary, budget or negotiate with the seller for any repair work that is needed. Most lenders require a survey but, if they do not it is still a very good idea to obtain one.
If you are thinking of buying a home or purchasing an income property, Bradford Miller Law, P.C. can help you every step of the way. From buying, selling, renting and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate.
Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau. Our website has information about our firm and helpful real estate information. To discuss your pending or potential real estate transaction call us at (312) 238-9298 for a Free 15-minute consultation.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602
http://www.bradfordmillerlaw.com
Offering free legal representation to homeowners seeking a short sale
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