How ALTA ACSM Land Title Survey Assists the Lender in Evaluating Land for Its Potential Risk and Ben

Most lenders will require a title search prior to approving your application for financing real property. However, certain circumstances may require a ALTA/ACSM land title survey for commercial real property, as this surveying method may discover information that may not be found in a regular title search. ALTA/ACSM surveys are accredited by the American Land Title Association for commercial purposes. Hence, they are conducted following a set of uniform standard code. Hence, when hiring an ALTA/ACSM land surveyor, you need to make sure that it is accredited, approved, and experienced in conducting the survey and that it has a good track record of meeting the survey standards set by authorized institutions and the government.

There are many ways an ALTA/ACSM land title surveys can assist the lender in determining your property for potential risk. The survey is also known as a ‘due diligence survey’, which can be commissioned to obtain information on the property’s height requirement, as well as country zoning laws and setback requirements. The survey can reveal vital information that can help you, lenders, and purchasers evaluate the property. It provides data on the property’s easements and boundaries, and it can provide further suggestions for other improvements that can be conducted on the land, such as rights of ways, roads, fences, and trails.

The survey may be bit costly than a regular boundary survey or a title search, but it provides comprehensive and detailed information that can help you and lenders make informed decisions about the property. A ALTA/ACSM land title survey can reveal information about the property that may require a deeper investigation, especially when there is a possibility or evidence of adverse rights. Likewise, it may show easements and improvements, encumbrances, ownership areas, encroachments, and other important aspects of owning the land.

Lenders can provide sufficient and reliable financial assistance to developing and building your commercial land and property if they have the right information about it. Likewise, they may order the survey to protect their investments and security interests, in case a title search cannot reveal adverse claims about the property. ALTA/ACSM land title survey providers can provide a legal description of the commercial property to enable lenders to compare it with the title to find similarities and discrepancies, which may require further investigation.