These terms are often used interchangeably, and their use can vary from one region to another. But usually, a boundary survey, or mortgage survey, delineates the lot lines, improvements, and measurements between them. This type of land survey is named as such because it determines property lines and defines true property corners of a parcel of land and in addition to including improvements, may also include easements, setbacks, and encroachments. For instances where special pricing is available for a boundary or mortgage survey, PropLogix has defined what qualifies:
This is defined by a residential platted property with a lot/block legal description, where the lot size is under 10,000 sq. ft, with one improvement under 3,000 square feet.
In many cases, a standard boundary survey is required in mortgage transactions, which is where the name ‘mortgage survey’ originated. Since this type of survey will discover the true footprint of what a homebuyer will own and not own, it’s a crucial piece of homebuyer due diligence. Using an existing boundary survey in a transaction is often acceptable to title insurance underwriters -- but whether it’s a year old, or 10 years old -- you’re still relying on the seller’s representation that there have been no changes to the property. A new survey conducted before closing will ensure that there won't be any unforeseen title claims due to a boundary issue.
When you request a survey, we get to work finding you the best match in terms of quality and price, taking into account your specific needs. Then we'll send you a competitive quote from our network.
We coordinate the entire process so you can focus on other things. When the survey is ready you'll get an email back with your completed order attached.