If You Are Selling Property
You may have to provide your buyer with an up-to-date Surveyors Real Property Report of your property in order to:
· Give your
buyer confidence in the purchase
·
Allow your buyer to register the transaction at the Land Registry Office
·
Enable your buyer to make mortgage arrangements
·
Verify to your buyer the size and extent of the property
·
Avoid later legal disputes arising from inadequate or inaccurate property descriptions
If You are Buying Property
You need to know what you're getting. Only a survey plan made by a licensed land surveyor can legally define what you've purchased.
Your surveyor will undertake the necessary research, survey the property and prepare a survey plan that will reveal:
·
Whether other people are entitled to partial use of your property through easements
for utilities or rights-of-way
·
Whether fences, trees, buildings, gardens, embankments, driveways,walkways, swimming pools, house additions and other property improvements actually lay on your property
·
Whether your deed describes your property accurately.
Your survey thus gives you a form of protection in addition to clarifying what you've bought, since it will reveal any encroachments or other irregularities that might be the cause of later legal disputes. In addition, your surveyor can mark the exact corners of your site with survey monuments.
If no up-to-date survey exists for the property you wish to buy, you should make it a condition of purchase that one be provided for you.
If You are Building, Adding On or Fencing
You need to protect your investment by making sure you are building on your own property. A mislocated fence, driveway or carport can cause legal problems and extra construction costs. Before you build, let a licensed land surveyor determine your property boundaries, replacing missing stakes if necessary. Allowing a surveyor to mark the location of your building on site before construction begins will also ensure that you meet setback requirements and other restrictions enforced by the Municipality in their zoning By-Laws. Failure to comply with zoning By-Laws could result in the loss of a future sale if the purchasers have an up-to-date survey done. Mortgage lenders generally do not advance money until by-law infringements are cleared up.
If You Are Subdividing
A licensed professional surveyor will:
| · |
Check and ensure extent of title, and note planning restrictions, easements and other
legalities. |
| · |
Survey the site |
| · |
Engage other consultants to carry out preliminary studies, Engineering,
Planning & Environmental issues to submit with draft plan |
| · |
Draft a proposed plan of subdivision |
| · | Prepare final plans |
If You Are Refinancing
or Obtaining a Mortgage
A mortgage company,
whether it be a bank, trust company or others, may require a survey before they
will lend money. Why is this a necessity and why are you often asked for an
up-to-date survey?
Do the lot size,
building set backs, pool and fence locations meet with local Zoning By-Laws?
The mortgage company
will require the survey to protect their investment. They want to be sure that
the land and buildings on which they are lending money are as described in the
documents which accompany the transaction. They also wish to know that if they
have to foreclose there will be no problems in re-selling the property.
Sale or Purchase of Land
Typically your house and land represent your largest assets. If you are contemplating
purchasing property, you should know as much as possible about the piece of
land you are going to invest in. Obtaining a survey may be the most important
thing you do before you close the deal on any purchase. Without a survey, you
do not know the extent of your property, as only a licensed surveyor can provide
you with this information. Without the survey, there is too much you do not
know and you are risking both friendly neighbours and your investment.
It pays to know
the boundaries of your land. A small distance can make a big difference. The
erection of a fence can be the source of expensive litigation and ill will between
neighbours. Your licensed land surveyor can help you avoid disputes.
Why a Professional Land Surveyor ?
According to provincial law, only surveys made by licensed Ontario Land Surveyors
are legal. Only members of the Association of Ontario Land Surveyors have completed
the academic requirements and practical training before licensing. Only Association
members are required to maintain the necessary theoretical, practical and ethical
standards set by legislation and the profession.
What Will It Cost?
Depending on the nature and extent of the work, anywhere from a few hundred to several thousand dollars. Fees for surveys are determined on an individual basis, depending mainly on the amount of time required for the research and the survey. Prior to engaging your surveyor, you may wish to enquire of the likely estimate of the fees that the survey will entail, along with the expected completion date.
Your Assurance
In cases of dispute, your surveyor is an expert witness in court and assumes full professional responsibility for the accuracy of your survey. The cost of the survey as a percentage of your total investment is small and a reasonable price to pay for peace of mind.
* The foregoing information courtesy of the Association of Ontario Land Surveyors