Is a Property Survey Necessary When Buying a Home?

The process of purchasing a home, while exciting, is laden with decisions and evaluations. One of the most overlooked but critical components of this process is understanding the significance of a property survey. This document holds substantial weight, especially when navigating potential land disputes or making home improvements.

What is a Property Survey?

A property survey is a vital document delineating a property’s boundaries and land features. It’s essentially a graphic representation that provides specifics such as: 

• the property’s boundaries;
• its location relative to neighbouring properties;
• any structures therein. 

A thorough survey clarifies rights, ownership, and potential restrictions or easements.

How often should a property be surveyed?

While there’s no fixed frequency, getting a new survey is advisable whenever there’s a change in property structure or ownership or after significant time has elapsed since the last survey.

Types of Property Surveys

The property surveying process can take various forms, each tailored to specific property needs:

Boundary Surveys

This foundational survey identifies property lines, establishing the legal boundaries of a parcel of land. It aids in determining any potential disputes or encroachments.

Topographical Surveys

A detailed analysis of the land’s surface features, this survey presents the property’s elevations, depressions, and contours. It’s especially valuable for builders and architects to design structures or landscapes harmonizing with the existing topography.

Site Planning Surveys

Tailored for development purposes, this survey integrates boundary and topographical surveys, aiding in creating detailed site plans for construction projects.

Subdivision Surveys

This type of survey is essential for developers to divide more extensive tracts of land into smaller plots, ensuring legal compliance and clear ownership boundaries for future sales.

Floodplain Surveys

This specialized survey determines if a property lies within a flood zone, providing critical insights for insurance purposes and construction considerations.

ALTA/NSPS Surveys

Collaboratively developed by the American Land Title Association and the National Society of Professional Surveyors, real estate lenders or title companies often request this detailed survey. It includes property boundaries, the location of significant improvements, easements, rights-of-way, and other elements.

Mortgage Surveys

Often requested by lenders, these are less detailed than boundary or topographical surveys but provide an overview of the property’s basic boundary and structural information.

Are property surveys mandatory for every real estate transaction in Toronto?

While not always obligatory, they are highly recommended to clarify property details and potential legal protection.

Pros and Cons of Getting a Property Survey

Pros

• Clarity on Boundaries

The most apparent benefit is the definitive clarity on where your property starts and ends.

• Informed Construction Decisions

A comprehensive survey, especially a topographical one, can guide future construction or landscaping projects, ensuring compatibility with the land’s structure.

• Resolution of Disputes 

A property survey is a credible reference in any land dispute, potentially saving vast legal fees and avoiding unnecessary strife with neighbours.

• Protection Against Future Claims

Without a clear distinction, potential future encroachments could lead to legal complications. A survey minimizes this risk.

• Valuation

If you ever decide to sell or lease out part of your land, a property survey can help determine the accurate value.

Cons

• Upfront Costs 

The immediate expense of obtaining a survey, especially a detailed one, can be significant.

• Potential Delays

Depending on the surveyor’s availability and the complexity of the task, acquiring a survey might delay property transactions.

• Unearthed Issues

A thorough survey might bring to light easements or encroachments that could affect the property’s value or lead to legal complications.

• Short-lived Accuracy

Landscapes change, and while a survey provides a snapshot in time, natural events or human-made alterations can alter the terrain or boundaries, necessitating updated surveys in the future.

Can a digital property survey replace a traditional one?

Digital surveys, when executed by licensed professionals, are equally valid, offering the advantage of easier data manipulation and storage.

Cost of a Property Survey

Navigating the cost of a property survey can vary based on multiple factors. Generally, surveying a larger tract of land is more labour-intensive and thus can be costlier. Similarly, properties located in remote or difficult-to-access locations might be more expensive to analyze.

A primary boundary survey is less intensive than an ALTA/NSPS survey, which requires more comprehensive details and research. Thus, the cost can differ based on the depth of information needed. If the property has been surveyed recently, and the details are still relevant, the costs might be reduced as the surveyor can use existing data.

Land with significant topographical variations or dense vegetation might require more time and specialized equipment, increasing costs. On average, a property survey can range from $300 to $1,200 for a standard residential property, with more extensive or specialized surveys being priced higher.

How Can a Real Estate Lawyer in Toronto Help?

Navigating the intricacies of property surveys in the dynamic Toronto real estate market can be challenging. This is where the expertise of a real estate lawyer toronto becomes invaluable:

Legal Expertise

Real estate lawyers toronto are well-versed in local property laws, ensuring your dealings align with existing legal frameworks.

Document Verification

A property survey is a legal document. A professional toronto real estate lawyer can validate its authenticity, safeguarding buyers against future disputes or fraudulent documentation.

Facilitating Dispute Resolution

Should there be discrepancies or potential issues with the survey, a real estate lawyer can provide mediation, possibly preventing protracted legal battles.

Guidance on Compliance

With deep knowledge of local zoning laws, land use regulations, and development codes, lawyers can advise on potential property use or restrictions based on the survey.

Contractual Insights

Beyond the survey, toronto real estate lawyers can review purchase agreements, ensuring clauses are in the buyer’s best interest and identifying potential oversights or pitfalls.

Conclusion

Undoubtedly, the importance of a property survey when purchasing a home in a market as nuanced as Toronto’s cannot be understated. Beyond the mere demarcation of boundaries, it offers insights into potential legal, developmental, or insurance implications, making it an indispensable tool in the property-buying journey.