If you are in the market to buy or sell residential real estate on Mt. Desert Island in Maine, be sure to schedule a property survey early in the process.
With over 50 years of experience, Herrick & Salsbury has been serving clients throughout the state of Maine and locally in Hancock, Knox, Penobscot, Waldo, and Washington Counties.
Our experience, relationships, and local knowledge in the Mt. Desert Island area of Maine can help you expedite the surveying, permitting and real estate process.
What Is A Property Boundary Survey?
A property survey is conducted by a surveyor when buying, selling or building a home. While many mortgage companies will require the property to be surveyed, it’s always a good idea to be informed about the property to eliminate future issues or surprises from your investment or sale.
A property survey includes:
- Historical research of the property history, description, deed, and title
- Inspection of any ownership discrepancies
- Site visit to sketch land, boundaries and property characteristics
- Detailed map of property’s legal boundaries
- Outlining right-of-ways and easements
- Document and map the location of current improvements
- Locate or set property corner pins
Why A Property Boundary Survey Is Important?
As we say in Maine, good boundaries make good neighbors. While there are a variety of circumstances that dictate the need for surveying, most residential real estate transactions can benefit from a boundary survey.
A boundary survey essentially establishes the boundaries of a parcel. The following real estate scenarios are common reasons to initiate a boundary survey:
- Buying Land: To prevent future boundary disputes, especially when buying a small parcel recently split from a large parcel. If the purchase is being financed, the lender will require a survey to protect its interest in the property.
- Dividing Land: When a large parcel is divided, whether into two parcels or a multi-lot subdivision, a survey shows the legal boundaries of the new, smaller parcels and additional features such as a road or utility easement into the property.
- Developing Land: Boundaries will ensure improvements meet setback requirements. A setback refers to how far off the boundary or lot line the improvement must be.
- Improving Land: If you’re adding structures such as a master suite, garage, deck, or fence to an existing home, a survey will demonstrate that the new additions meet setback requirements.
- Boundary Dispute: Disputes arise over many issues, such as whether a fence is on the wrong side of the property line or a deck doesn’t meet setback requirements. These disputes are settled using a legal survey of the property.