What is an ALTA Survey and Why is it Necessary in Commercial Real Estate Transactions?
In Phoenix’s dynamic and ever-expanding cityscape, precise, comprehensive land surveys are a crucial component to any meaningful real estate transaction. The value of a thorough survey can be priceless, especially for large commercial real estate transactions. One type of survey that is often required by lenders and title companies is an ALTA survey. What is an ALTA survey, and what types of property would benefit from one?
ALTA Phoenix az Alta surveys are required by the American Land Title Association (ACSM) and are used in conjunction with a commercial real estate transaction to disclose any encumbrances, easements or other matters of concern with the subject property. They are also used to resolve issues with zoning requirements and building setbacks. ALTA land surveys provide a complete and concise record of the physical boundaries of a property with a detailed description of all existing improvements.
Behind the Scenes: Exploring the Role of a Phoenix Land Surveying Company in Real Estate Development
Unlike most standard land surveys, an ALTA includes a minimum of 21 required “Table A” items and may include other optional survey specifications the client or professional requesting the survey can request. This requires a rigorous commitment to research and a thorough examination of all available records and evidence in the field. The end result is a clear, precise and well-documented property boundary that is based on the highest standards in the industry.
The complexity of an ALTA survey requires a highly trained, experienced professional who has a deep understanding of the unique challenges associated with performing such surveys in Arizona’s varied terrain and complex zoning regulations. Choosing the right surveyor is critical to ensure the client, title company and lender will receive all of the information they need to conduct their business.