#33 Stake Survey – What is it?
VIDEO POST #
A loan survey sometimes called a location survey is much different than a stake survey many times called a boundary survey. Understanding the difference between the two types of surveys could save you thousands of dollars in the long run. Unfortunately most home sellers find out a little too late the difference between the two types of surveys and pay BIG bucks to keep the home sale moving towards closing.
A “loan/location survey” shows the lender the location of the improvements on the property in relation to the apparent property boundary lines. It usually involves a physical inspection of the property by a licensed appraiser and is accurate to plus or minus a few feet. A loan survey is cheaper because of its lack of accuracy and should not be used to identifying the property’s boundary lines.
A “stake/boundary survey” is used to identify a property’s actual boundary lines. A surveyor will physically visit the property and set (or recover) the property corners while producing a detailed plat or map of the property. The surveyor will research the public records and taking actual measurements while performing calculations to confirm the property boundaries. A stake survey is typically used for construction and permit purposes when altering a property. Examples might include adding a fence or addition to a home, expanding a driveway, and many other alterations to the property. A stake survey may cost more than a loan survey because of the required details needed.
Todd explains to Curtis in this short video of the importance of having the better of the two surveys that may save the home seller not only money, but the entire sale of a home.
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