Lot Survey – Mortgage Survey – Closing Survey

A “Lot Survey” may also be known as a “Closing Survey” or “Mortgage Survey.”  Typically, this type of survey is done at the request of banks, realtors, attorneys, and title companies prior to a loan closing. It is usually understood to be a survey of a lot in a recorded subdivision.

A lot survey provides assurance to the lender and buyer that the property they are purchasing is what has been represented by the seller. This may be one of the most important types of surveys for a homeowner since your home is usually your largest lifetime investment.

Lot Survey

In the course of the survey the property corners will be found, if they have been disturbed they will be reset and marked with an iron pin and plastic cap bearing the surveyors registration number. If corners are not visible from one another, stakes may be placed on line between them if the owner asks for the lines to be marked.  On completion of the survey, all corners should be marked with a “witness” stake so they can easily be found for the short term.  You should be aware though that the actual corner is the metal pin in the ground.

Any encroachments and easements will be shown on the survey plat which is a drawing depicting the work done. If requested the home and other improvements will be located and shown on the plat as well.

A legal description will also be given for the property. In most all instances on a closing or lot survey the legal description will be something similar to “Lot 2, according to Happy Estates Subdivision, as recorded in Plat Book 30, Page 10, in the Office of the Judge of Probate in Madison County, Alabama.”  This legal description gives all of the required elements for anyone in the future to be able to relocate this parcel of land.  The subdivision map is typically recorded in the County Probate Office in a Plat Book or Map Book. Anyone has access to review this map and get a copy of it.

If you have additional questions about your survey or would like to have a lot survey or closing survey performed, please give us a call at Oxford Land Surveying at  (334) 625-9540 or better yet, fill out a contact form request.

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