If you’re in the process of buying or selling a home, consider getting a land survey. It provides you with valuable insight and information about legal boundaries, flood hazards, and other restrictions. A professional land survey can also resolve boundary conflicts with your neighbor. That’s why a land survey is a critical aspect of the property buying process.
That being said, let’s discuss who is responsible for paying the survey fees. Here is a closer look at land surveys, when you need them, and who pays for them.
When is a land survey required?
Do not skimp on the land survey. This document will help you avoid costly land disputes in the future. Getting a land survey is helpful not just for buyers and sellers but also developers. It allows them to determine the property’s value and identify restrictions on that piece of land.
Aside from locating boundaries, here are the reasons why you should get a land survey:
- Knowing exactly what property you’re buying
- Applying for homeowners and title insurance
- Meeting mortgage requirements
- Locating easements and rights-of-way
- Building new structures
- Locating utility lines
Who pays for a land survey?
There is no universal rule that determines whether the buyer or seller should pay for the costs. As a rule of thumb, the party who wants the survey is the one that pays for it. For instance, the buyer should cover the costs if they request one from a surveying company. However, some sellers proactively hire surveyors to attract prospects and interested parties.
The case may be different when you’re dealing with mortgage lenders and insurance companies. A mortgage survey is typically required by lenders. This is done to ensure the property is worth what they are lending to the borrower. When you work with mortgage and title companies, the survey costs are usually paid for by the buyer.
But sometimes the answer depends on which state you’re located in. In some states, the seller pays for the survey. But in other states, the opposite is the case: buyers settle the survey costs. If you live in an area where it is negotiable, then both parties can decide who is responsible for the fees.
Regardless of who covers the costs, a land survey is beneficial to either party. It should be a standard component of any exchange, especially real estate transactions.
Can you negotiate the land survey costs?
Again, there’s no hard-and-fast rule when it comes to who pays the survey costs. Some sellers or buyers are willing to split the fees. With that in mind, it is possible to negotiate a deal. Both parties may co-sponsor a land survey if it’s beneficial for them. But you can rest assured that survey costs are not that expensive. In fact, the average cost to hire a land surveyor ranges between $200 and $800.
How much does a land survey cost?
The amount you pay depends on the size of the property and the type of survey you get. The total survey costs include pulling property records, researching documents, and conducting fieldwork itself. In some cases, the surveyor may charge a premium when the terrain is difficult to access. Some plots are more challenging to assess than the usual rectangular plot of land. Bigger and more complex terrains require in-depth surveys, which means higher costs.
To get a ballpark figure, you may consult with a professional land surveyor in your area. They can tell you how much your next survey is likely to cost. In addition, a surveyor can help you understand what type of assessment should be done on your land.
You can find a land surveyor locally by searching on the internet, asking for references, and using online directories. Keep in mind to choose an established firm with a good reputation and solid track record.
Get a Free Estimate on Your Land Survey
If you’re looking for survey professionals in your area, Pittsburgh Land Surveyors can help. We are experts in providing a wide range of survey options for our clients. Backed with technical knowledge and years of experience, our team creates accurate land surveys of both large and small areas. Feel free to get in touch with us today. We will be happy to guide you through the entire process.
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