Why you should get a boundary survey before selling a property
A boundary survey is an essential service for any property sale. By preparing a survey before listing your property for sale, you’ll protect your investment, streamline the process, and provide a buyer with the peace of mind they need to move forward. Whether you're selling residential, commercial, or industrial, completing a boundary survey is an important step to ensure a successful sale.
Clarity and Certainty for Buyers. A boundary survey provides buyers with clear information about what they are purchasing. It reduces uncertainty about where the property lines are which should avoid or help resolve potential disputes. Without a survey, the buyer will have to make assumptions which could lead to misunderstandings or legal issues.
Prevents Neighbour Disputes. Resolving a property line dispute with neighbours can be a costly and stressful for everyone involved. If the seller has a boundary survey, it helps prevent conflicts over land ownership or use. It also gives both the buyer and seller an understanding of the property’s limits. Knowing where the lines are drawn can prevent problems, such as disputes over fences, driveways, or sheds built too close to the property line.
Increases the Property's Marketability. A property that comes with a completed boundary survey will be more attractive to a buyer. An agent can be confident quoting the actual dimensions and not the unreliable information from a MPAC printout. For larger properties, the area can be calculated which will assist in accurate assessment
Reduces the Risk of Title Issues. A boundary survey can uncover potential title problems that might not have been apparent otherwise. For instance, a survey will show if a neighbour is using your property (and may have acquired adverse possession or prescriptive rights). Addressing these issues before listing can save both the seller and the buyer future legal and financial problems.
Saves Time During Closing. Without a boundary survey, issues relating to property lines might only come to light at a later stage of the transaction. For example, during the due diligence phase or in the title review process, discrepancies over the property's boundaries could delay the closing or cause the deal to fall through altogether. By conducting a survey in advance, these issues can be dealt with before negotiations even begin, making the closing process smoother and faster.
Assists Future Development. A boundary survey can also assist in assessing zoning laws, building codes, and potential future uses of the land. For buyers interested in making improvements or modifications to the property like adding a fence, building an addition, subdivision, etc, a survey will allow a purchaser to confirm that local zoning regulations will allow the development. Topography can also be added to any boundary survey which would allow a potential developer to very accurately assess what can be built on the land.
Increases the Property Value. Because a boundary survey reduces the possibility of legal disputes, creates transparency in the sale, and allows a buyer to accurately assess a property before purchase, a seller can ask for a higher price and avoid potential issues that could lead to a price reduction later on.
