American Land Title Association surveys, also known as ALTA land surveys, are essential surveys for documenting the characteristics of a piece of property.
Performed standardly by all land survey firms in Texas and the United States, these critical assessments are most widely used in the commercial real estate industry for a wide range of purposes, though they may also be ordered by private property owners or real estate companies.
When in need of one, it is important to hire an experienced ALTA survey company to perform this detailed process as accurately as possible, as many development, financial, and other business decisions may be made based on the findings of an ALTA report.
1. Property Documentation Using ALTA Land Surveys
ALTA land surveys are highly detailed surveys that identify and document all characteristics of a piece of land, from boundary to boundary.
Land survey firms record everything from property perimeters and boundary positions to land topography and natural features, the existence and location of any improvements, and the location of easements, rights-of-ways, and other pre-established paths, and any encroachments.
This detailed property assessment is the foundation of every commercial land project and all related real estate and development planning for that site.
ALTA surveys are also ordered by private landowners to document their lands when the property will be sold. the property will be passed down to heirs, or when it is received as an inheritance.
2. Establishing Land Valuation
Using the details gathered by land survey companies, ALTA documentation helps property owners and real estate companies assess the size and condition of a piece of Texas real estate to establish its value.
An established value is necessary both to offer land for sale to a buyer and also for that buyer to obtain the necessary financing with which to purchase it.
3. Land Development Planning
Commercial land development projects involve extensive planning that can take months or years in the making.
The completion of an ALTA land survey is the first and most critical step in the development planning process.
With that survey, developers can assess the property and understand its features and limitations to plan out what will be necessary to improve the land for its intended purpose.
Project budgeting, construction planning, zoning issues, and all other decisions important to the project all rely on an accurate ALTA survey.
4. Financing and Title Insurance for Real Estate
The reports documented by ALTA land survey firms are instrumental in the financing of commercial development projects, as lenders must know the value of not just the land but also the estimated cost of the project.
ALTA surveys are also utilized by title insurance companies to ensure the land title is clean and to protect property owners against unknown encumbrances that may exist.
Every Land Development Project Begins With An ALTA Land Survey
ALTA land surveys are a necessary assessment for the sale or development of real estate in Texas.
Commercial developers should begin their land purchase and project planning by hiring an experienced land survey firm that can provide a well-researched assessment of their development site for all of the aforementioned purposes.
An ALTA survey is one of the most detailed land surveys available that can satisfy many needs for both private and commercial landowners to prevent legal and planning problems later!