Due Diligence Surveys

    • It is vital when purchasing commercial property to obtain a new correct physical survey and a thorough review of the survey. Often buyers will skip ordering a new physical survey to save money on the deal. Bad idea. The cost is minimal and detailed new surveys almost always raise issues that must be addressed. Bad information on old surveys or new features that have been added to the property since the time of the earlier survey are common problems.
    • The new survey should include on site measurements of the actual boundary lines and the true corners of a parcel of land.  Hopefully this matches the old written description of the property on the deed documents.  It should include the location of any easements, show certain exceptions to coverage cited in the title report, access to public roads, visible utilities, existing improvements, encroachments, wetlands, parking configurations, applicable zoning, topography, and flood hazard concerns.
    • There are several types of surveys.  An “American Land Title Association” and American Congress on Surveying and Mapping” (ALTA/ASCM) is the most common survey for commercial properties and real estate development projects.  There are also Boundary, Topographic and Aerial Surveys.
  • Cost to Cure Estimates
  • Permit & Zoning
  • Use Feasibility
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