An ALTA Survey are typically required by title companies and lenders in a real estate transaction. This surveys provides significantly more detail about a property than a simple boundary survey. ALTA/NSPS was formerly known as ALTA/ACMS.
Fort Myers Land Surveyors has the expertise and tools to provide an ALTA/NSPS survey.
An ALTA Survey is a necessity in order for a property owner to obtain a mortgage and title insurance. ALTA/NSPS provides requirements jointly set by ALTA (American Land Title Association) and NSPS (National Society of Professional Surveyors). Until 2021, the requirements were known as the ALTA/ACSM (American Congress on Surveying and Mapping). The survey is primarily used for real estate transactions.
Reasons to get an ALTA/NSPS Survey
An ALTA/NSPS survey is often required by title insurance companies before issuing title insurance policies. This survey helps mitigate the risk to the title insurance company and ensures the accuracy of the title insurance coverage.
Lenders often require an ALTA/NSPS survey in order to provide financing. The survey is another tool to help lenders understand the property’s value by providing a comprehensive view of the property and its potential risks.
Real Estate Transactions
Commonly completed for real estate transactions, especially for commercial properties or high-value transactions. It is necessary for due diligence. This information from this survey helps buyers and lenders make informed decisions regarding the property.
Boundary Disputes and Resolutions
Neighboring property owners can have uncertainties or misunderstandings about their property lines. This can lead to disputes about the actual property line. An ALTA/NSPS survey provides the objective clarity of the actual property line.
Development and Construction
ALTA/NSPS surveys identify existing improvements, utilities, easements, and other relevant features that need to be considered during the design and planning stages. This is important for site analysis and feasibility studies for the projects.
What is an ALTA/NSPS Survey?
An ALTA/NSPS survey is an important tool for property buyers, sellers, lenders, and title companies. This survey helps ensure a smooth and secure real estate transaction.
This specialized type of land survey that shows improvements, easements, and other details in addition to boundary lines. An ALTA/NSPS survey is more detailed than a standard boundary survey, which just shows the boundary points between multiple pieces of land.
ALTA/NSPS is an abbreviation for “American Land Title Association/National Society of Professional Surveyors”. These organizations define the requirements of the survey. The ALTA/NSPS survey was previously called an ATLA/ACMS survey.
During an ALTA/NSPS survey, a land surveyor collects various data points of a property necessary for the survey. This land survey will include information about the property lines, neighboring properties, buildings, structures, fences, roads, utility lines, and any easements or rights-of-way.
In a real estate transaction, lenders and title companies typically require an ALTA/NSPS survey.
Fort Myers Land Surveyors can conduct your ALTA/NSPS Survey. We look forward to hearing from you!