Ever really wonder what the difference is between a location drawing and a boundary survey? If you have, you are in luck! We are tackling this question head-on. In real estate, there is a lot of technical jargon that gets thrown around. From title insurance to mortgage lenders to deeds, it can be very confusing for someone who isn’t well-versed in the industry. While fundamentally, these two types of surveys are the same, there are some nuances that only a professional would understand. Here is a helpful guide toward tackling the differences associated with a location drawing and a boundary survey.
What Is A Location Drawing?
Simply put, a location drawing shows the property lines and locates the improvements made on the lot. In fact, this document uses the legal description and any easements, right of ways, and other specific property features to showcase the property in its entirety. As a result, a location drawing ends up being accurate up to one foot in each direction. Therefore, a location drawing is never based on markers or stakes set at the corners at the property itself.
What Is A Boundary Survey?
In the simplest terms, a boundary survey is usually conducted by a crew of surveyors in the field, creating or finding markers set to measure the dimensions of the property lines. The boundary Survey will identify utility connections and easements for the utilities, and all the other recorded and unrecorded (observed in the field) easements, and will establish the proper boundary lines of the property based on the title provided to the Surveyor by the title company.
What Is The Difference?
In the end, it can be hard to distinguish amongst the two different types of surveys. However, the cost of each varies tremendously and can be a huge indication as to which one is more a necessity.
When it comes to buying residential and/or commercial real estate and getting the title insurance and obtaining a mortgage, a location drawing is typically the requirement. However, if the lines of the property are unknown, or a development is needed, a boundary survey will be required and is necessary. As a result, it is always ideal to seek the assistance of a professional when you need title insurance or have real estate questions that need answers immediately.
A Title Company You Can Trust: Colony Title
At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter, LinkedIn, and Google+.