If you are purchasing a property, you are likely spending a great deal of money. Because of this, you need to ensure everything goes smoothly. Fortunately, there are many ways you can do this, two of which are listed below.
1. Hire Architectural Property Condition Assessment Services
The first thing you should do is hire a company that can provide you with architectural property condition assessment services. This type of service ensures that the property you are purchasing is the actual property that you receive.
This service will inspect and investigate the property you are purchasing. This will show you information about the physical property itself, but this service offers much more than this.
For example, this professional can help you determine the age and condition of the property. This is especially important if the property has a building on it. This will help you determine if you are making a good investment in the real estate.
When the services company is finished with their inspection and investigation, they will provide you with a detailed report. You can then take this report and decide if you are taking a risk with the property or if this would make a good investment for you. The last thing you want to have happen is to purchase a building and then find out it demands a lot of upkeep that you cannot afford.
You must hire this company before you sign any type of sale documents, because once you complete the sale, it is too late. The architectural property condition assessment services will work with the real estate broker or agent to help bring down the cost of the property.
2. Get An American Land Title Association Survey
An American Land Title Association Survey (ALTA) offers you many benefits. This survey will tell you the exact amount of the property you are purchasing. For example, you may think you are purchasing 10 acres when the property is only actually a little over nine acres.
This survey will show the exact boundary lines and locations of any buildings. It will also show you any improvements that were done to any building that may be on the property.
One of the most important things you will get from an ALTA survey is that you will learn if there are any easements on the property. If there is the easement gives someone else the right to use your property. For example, utility companies may have the right to install gas or water lines.
When the ALTA survey is finalized, you will be asked to look it over and sign it. Before you do this, take your time to ensure everything is correct. If you are not sure, ask the ALTA survey company to go over things with you in more detail.