TL;DR: Turn to ALTA surveying Tulsa services whenever a lender, title company, or insurer needs detailed due diligence—most often for commercial real estate purchases, refinances, and vacant land purchases where the property hasn’t been recently surveyed.
Use ALTA surveying services whenever a lender, title company, or insurer requires detailed due diligence before financing a commercial real estate purchase, refinance, or vacant land purchase. When preparing to purchase or refinance a property, you may receive a loan from an outside party to assist with the process. Whether you meet with a commercial lender, insurance company, title company, or bank, this party will likely require a thorough due diligence process before providing the funds; this process often involves ALTA surveying Tulsa services.
Understanding ALTA Surveying Oklahoma
This survey type involves a highly detailed and specialized review of a property. ALTA surveying Oklahoma can be thought of as a combination of:
- Boundary surveys: because it establishes the property’s perimeter in relation to its legal description.
- Location surveys: as it marks the location of improvements in regard to the property’s boundaries.
- Title surveys: because it involves an evaluation of factors that affect ownership and easements.
Through careful research and a physical inspection of the plot of land, the technician will create a detailed map that:
- Defines the property’s boundaries and corners.
- Note how those boundaries compare to the deed’s description.
- Details all of the property’s improvements and utilities.
- Describes any significant observations about the estate.
- Notes any exceptions or easements cited in the title commitment.
- Lists any flood or zoning restrictions when relevant.
In addition to ensuring that everything is constructed correctly and within its timeline, the ALTA survey will provide everything needed for the lender to issue an American Land Title Association or Extended Coverage Title Insurance policy. Overall, an ALTA survey determines if the transaction is beneficial for all parties.
When Are ALTA Surveying Tulsa Services Required?
If a landowner looks for a “surveying company near me” to learn more about their ALTA surveying services, it is often because they require a loan to assist with commercial real estate transactions or to purchase vacant plots of land.
Commercial Real Estate Transactions
Title insurance companies or other lenders may require an ALTA survey before they assist with commercial real estate purchases or refinances. This is because the thorough surveying process will reduce the risk of boundary-related liabilities, such as:
- Line disputes.
- Encroachments.
- Easements.
- Easement claims.
Because the resulting survey shares critical information that may not be listed in the deed or other legal documents, it can inform your purchase decision and lower the risk of running into boundary-related issues later on.
Vacant Land Purchases
While boundary surveys are often the only requirement for vacant land purchases, ALTA surveys can be especially useful when you are purchasing that plot of land for eventual development. In particular, ALTA surveying services are recommended if the property’s previous survey is outdated or if it has never been surveyed before. This process will help prevent potential legal disputes regarding ownership, boundaries, and encroachments.
Frequently Asked Questions
Who typically requires an ALTA survey?
Commercial lenders, title insurance companies, and buyers involved in commercial real estate transactions typically require ALTA surveying Tulsa services before closing.
Is an ALTA survey the same as a boundary survey?
No. An ALTA survey combines boundary, location, and title survey elements into one comprehensive review, going beyond what a standard boundary survey covers.
Do I need an ALTA survey for vacant land?
It depends. Vacant land purchases often only require a boundary survey, but an ALTA survey is recommended if you plan to develop the land or if it hasn’t been surveyed before.
How long is an ALTA survey valid for?
Timelines vary by lender and situation, but many title companies prefer a survey completed close to the transaction date to reflect current site conditions.
Key Takeaways
- ALTA surveying Tulsa combines boundary, location, and title survey elements into one detailed property review.
- Lenders and title companies typically require it before closing on commercial real estate purchases or refinances.
- It’s also valuable for vacant land purchases, especially when the property has never been surveyed or its last survey is outdated.
- The results support the issuance of an American Land Title Association or Extended Coverage Title Insurance policy.
Looking for a Surveying Company Near Me?
As a leading civil engineering and land surveying firm, the team of technicians at Sisemore & Associates has the knowledge, experience, and techniques to get the information that you need for your project to succeed. Start your project right with an efficient ALTA surveying process that provides accurate results. Contact us to learn more about our services.