Question regarding whether or not to get a survey

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Question regarding whether or not to get a survey

Justin Johnson
Longwood, FL · Member since 2018 · 3 posts · 0 votes

It was recommended to get a survey on a property I'm looking to purchase. Any thoughts on if it's necessary or not?

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  • Brandon SturgillBusiness Member
    Real Estate Broker · Columbus, OH · Member since 2013 · 3k+ posts · 1k+ votes
    8y

    @Justin Johnson it depends...how are you going to acquire it, and when was the last survey completed. Doing a survey may be a requirement from a lender...just depends. What does the deal look like?

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  • Guy Gimenez
    Investor · Corpus Christi, TX · Member since 2012 · 2k+ posts · 1k+ votes
    8y

    Will you have an investment in the property? If so, then yes. If not, you might be willing to accept the risk. Personally, I get surveys on almost every property I purchase. 

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  • Deep Johal
    Rental Property Investor · USA · Member since 2018 · 66 posts · 48 votes
    8y

    do you mean an inspection or an appraisal?

    if you mean inspection, think about the risk vs reward

    you may save $400 on the survey fees but you may miss something like a basement fault that could cost you $20k down the line

    for appraisals, then I would only do it if its required by the lender

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  • Wayne Brooks
    Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    8y

    Yes, get a survey....other than obvious encroachment issues you may have easements you don’t know anything about.  A recent poster actually bought the wrong property....seems like the bank foreclosed on the wrong property, one of a pair side by side.....it would have been revealed with a survey.

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  • Justin Johnson
    OP
    Longwood, FL · Member since 2018 · 3 posts · 0 votes
    8y

    Thanks for all the feedback. Much appreciated. 

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