Advantages of Refinancing Your Commercial Property Using ALTA land Survey

Refinancing your property is not as easy as going to a financing company and asking to have your property refinanced. There are times when financing requests are denied. Although there are a lot of factors which are considered before financing agencies grant a loan, having the necessary requirements on hand will help hasten the process.

Another thing you could do is to have your property surveyed using ALTA survey method. Not only will you have greater chances of having your financing request approved but you may actually increase the value of your property. Read on to further understand how ALTA survey can help you.

ALTA survey unlike boundary surveys are more elaborate and detailed. Not only does it inform you about the properties boundaries and size but it also includes a lot of other vital information that may directly affect the use and value of the property. Some of this valuable information include the right of way, easements, improvements, etc. It also includes zoning and flood zone classification. All of this information are important. This set of data will not only determine the possible use of the property but it will also give both the owner and the financing agency an idea about the potential benefits and hazards associated with the property.

Because ALTA surveys are detailed and precise, planning for the property’s use would be much easier. By the use of the ALTA survey, the person interested will also determine if there will be any obstacles or problems that will occur during the use of the property. It will also be possible for the interested party to determine if there are any encroachments, presence or absence of facilities, presence of cemetery, third party, etc.

Anyone interested in the property would be wise to first have the property surveyed through ALTA standards as this method of surveying divulges important information that may affect the use, development or maintenance of the property. ALTA survey can also help investors protect their investments as it can be used against opposing claims from other parties if there are any. Investors would also be pleased if you have had this prepared ahead of time.

If you are going to have your property refinanced, surveying your property using ALTA standards will be a very big plus factor. It will increase your chances of getting approved and it will be less of a burden for the financers as well.

About the Author:

Armando Dupont, a professional land surveyor started his career in surveying in 1977 and has extensive experience in managing personnel and projects. His experience includes: topographic mapping, boundary surveys and analysis, construction and control surveying, preparation of tract and parcel maps, earth work calculation and quantities, targeting and control for photogrammetric, and land title surveys in accordance with the American Land Title Association and the American Congress on Surveying and Mapping. Mr. DuPont founded Calvada Surveying, Inc. in 1989 and is a licensed Professional Land Surveyor in the State of California.