Ep. 30 | Title Commitment and Surveys 101 – Part 2 of 2

The Real Estate Diversification Podcast

Aug 25 2023 • 34 mins

In this Legacy Series episode of The RED Podcast, Ferd Niemann takes us through Title Commitment and Surveys 101 - Part 2. Hosted by Jonathan Gilmore.

HIGHLIGHTS:

0:00 – Intro
1:13 – The survey is an extension of the title commitment
1:20 – Ferd describes the base-level boundary survey
3:08 – Ferd describes a typical Alta survey
7:16 – The first item on the Alta Survey, Table A is to do with monuments placed
9:23 – Number 2 is the addresses of the surveyed property
9:52 – Number 3 is the flood zone classification
10:19 – Number 4 is the gross land area
12:16 – Number 5 is vertical relief with the source of information
12:44 – Number 6A is List the current zoning classifications and 6B graphically depicts the setback requirements
13:41 – Number 7 is exterior dimensions of all buildings at ground level
14:49 – Number 8 is substantial features observed in the process of conducting the fieldwork
15:09 – Number 9 is the number and type of identifiable parking spaces
15:45 – Number 10 is the determination of the relationship and location of certain division or party walls with respect to adjoining properties
16:31 – Number 11 is the location of utilities existing on or serving the surveyed property
22:24 – Number 12 is governmental agency survey-related requirements
22:40 – Number 13 is the names of adjoining owners according to tax records
23:45 – Number 14 is the distance to the nearest intersecting street
24:13 – Number 15 is rectified orthophotography
24:44 – Number 16 is evidence of recent earthmoving work, building construction, or building additions
25:25 – Number 17 is proposed changes to street ride away lines
25:46 – Number 18 is the location of any delineation markers
26:14 – Number 19 is any plottable offsite
26:41 – Number 20 is professional liability insurance
27:20 – Ferd recommends that the seller pay for the survey and require them to include any surveys which have been done in the past
21:25 – Surveys can be expensive, but they’re a must