When a homebuyer is applying for a mortgage, it is often not required that they provide a property survey. However, surveys can reveal a lot about a property. Like a map, outlining property boundaries and structures, a survey will also reveal improvements to the land, restrictions and more. A property survey is crucial to knowing everything about a property and plays an important role in the homebuying and selling process – a role that might just make or break any real estate deal.
1. Surveys reveal property-related issues.
As a real estate agent, pulling a property survey is beneficial to you and your clients. It can reveal potential property-related issues on a deal, like fencing that exceeds the property line or a roof from a detached garage that is over-hanging. Without pulling the property survey, buyers may be unaware of these issues, which could have led them to make these fixes later down the line.
2. Surveys are needed when making any alterations to the property.
Another benefit to using a property survey, is knowing what your limitations may be with your property and how that may affect homebuyers’ plans. The buyer may have plans to do improvements on their home or property, such as adding an extension of the home or renovating the backyard to add a pool. They may not realize that they’ll need a survey to complete any extension alterations to the property, so having a property survey pulled before the real estate transaction is complete can help provide your clients the confidence in their future plans.
3. Surveys will reveal any restrictions for the property.
Depending on how your client plans to use a property, the survey will reveal restrictions on zoning. If your client has plans to use part of their property for a business or is looking to build a garage on the property, the survey will reveal if they will be able to and what their limitations are. Knowing these restrictions early in the real estate process will help eliminate any properties that do not align within with your client’s plan to do with their property.
To help you conduct your business effectively, GeoWarehouse offers online property surveys and plans, access to plan images, and plans of subdivisions, that you can provide to your clients. Learn how you can request a survey plan and a registered plan & visit the GeoWarehouse Store today to learn more.
If you’re not already a subscriber, become one today at www.geowarehouse.ca.
