Do I need a boundary survey or a mortgage inspection report?
The title company often informs you of what's required for the real estate transaction to close. An experienced realtor is also a great resource to delineate whether or not you will need a mortgage inspection report or a property survey.
The Oklahoma Real Estate Commission defines a mortgage inspection report as "A representation of the boundaries of a parcel of real property and the improvements thereon and shall not be designated as or construed as being a land or boundary survey." In addition, land surveyors follow and adhere to the Oklahoma Minimum Standards for the Practice of Land Surveying. Therefore, if a surveyor completes a mortgage inspection report, they must include the following statement according to the standards. "It is not a land or boundary survey plat, and it is not to be relied upon for the establishment of fence, building or other future improvement lines."
The title company often informs you of what's required for the real estate transaction to close. An experienced realtor is also a great resource to delineate whether or not you will need a mortgage inspection report or a property survey.
The Oklahoma Real Estate Commission defines a mortgage inspection report as "A representation of the boundaries of a parcel of real property and the improvements thereon and shall not be designated as or construed as being a land or boundary survey." In addition, land surveyors follow and adhere to the Oklahoma Minimum Standards for the Practice of Land Surveying. Therefore, if a surveyor completes a mortgage inspection report, they must include the following statement according to the standards. "It is not a land or boundary survey plat, and it is not to be relied upon for the establishment of fence, building or other future improvement lines."
Land Survey Research Starts with a Trip to the Courthouse
A boundary survey will contain many more details than the mortgage inspection certificate. These details can sometimes make your eyes glaze over. Still, it is essential to remember that a property survey in Oklahoma must adhere to the above minimum standards:
- A land surveyor will research record deeds, surveys, subdivision plats, and certified section corner records. Surveyors can complete some work online; however, there are many instances when a trip to the courthouse is required.
- A survey crew will complete fieldwork to establish the existing ground conditions.
- The licensed surveyor will ensure that it meets the Oklahoma Minimum Standards.
- Once the fieldwork is completed, the surveyor will review all the data, harmonize it with the researched records, and complete a plat following the standards.
- Before signing the plat, the land surveyor will have their crew set monuments (pins) if needed on the property. This typically includes setting survey lathe (stakes) at all found (existing) corner monuments. Pins or other markers are not set when a mortgage inspection is completed.
A boundary survey will contain many more details than the mortgage inspection certificate. These details can sometimes make your eyes glaze over. Still, it is essential to remember that a property survey in Oklahoma must adhere to the above minimum standards:
- A land surveyor will research record deeds, surveys, subdivision plats, and certified section corner records. Surveyors can complete some work online; however, there are many instances when a trip to the courthouse is required.
- A survey crew will complete fieldwork to establish the existing ground conditions.
- The licensed surveyor will ensure that it meets the Oklahoma Minimum Standards.
- Once the fieldwork is completed, the surveyor will review all the data, harmonize it with the researched records, and complete a plat following the standards.
- Before signing the plat, the land surveyor will have their crew set monuments (pins) if needed on the property. This typically includes setting survey lathe (stakes) at all found (existing) corner monuments. Pins or other markers are not set when a mortgage inspection is completed.
Land Survey Research Starts with a Trip to the Courthouse
So Ultimately, What Does This all Mean?
Mortgage inspection reports and boundary surveys are essential parts of real estate transactions. However, they are different in the level of detail and certification. I have not completed a mortgage inspection certificate, but I have completed many boundary and lot split surveys. These land surveys take significant time and resources to ensure they meet the necessary standards. Land surveyors are also aware that the survey plat will likely become a recorded document filed at the county courthouse for future use. This, coupled with the expense of a survey crew, equipment, truck, drafters, and the surveyor's time, create a difference in costs between the two.
You can find additional information about Boundary Surveys here.
Mortgage inspection reports and boundary surveys are essential parts of real estate transactions. However, they are different in the level of detail and certification. I have not completed a mortgage inspection certificate, but I have completed many boundary and lot split surveys. These land surveys take significant time and resources to ensure they meet the necessary standards. Land surveyors are also aware that the survey plat will likely become a recorded document filed at the county courthouse for future use. This, coupled with the expense of a survey crew, equipment, truck, drafters, and the surveyor's time, create a difference in costs between the two.
You can find additional information about Boundary Surveys here.
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