Importance of Certification of Real Estate Survey
These terms are not alien to us. Let us figure out what a Surveyor Report actually tries to cover!
A ‘Surveyor Report’ in Real Estate business means preparing a blueprint of the site. It includes various statistics and measurements taken by the Surveyor or the Engineer. Surveyor Report informs the reader or the audience about the actual dimensions of the land or property, location, the size and measurements based on the legal documents related to the property and an assessment of the adjoining areas as well.
Various formats of Surveyor’s reports are Construction Layout, Boundary Survey, Topographical, Hydrographical and As Built.
Why Do We Need?
- Money lenders will not lend money unless they see a Surveyor Report of the land
- It formulates and regularizes the land or property
- Surveyor’s Report gives a validity and approval to the property, diminishing the room for manipulation and black marketing
Who Should Seek the Surveyor Report?
- Buyer – to avoid any fraud and deceit
- Seller – to authenticate the listing
- Construction companies – to obtain a ‘No Objection’ certificate
- Civic Bodies – to carry out any maintenance work and to ensure that no malpractices take place
- Real Estate Investors- to gauge the actual worth of any property or land
In order to authenticate the aforementioned document, the Surveyor Report has to be approved by the Certifying body by granting it a Certification of Real Estate Survey.
A lot of times, buyers ignore the Surveyor Report to save time and money. This, in future, can harm them to a great deal. This report verifies that the piece of property is genuine, and the laws of the land do not see any harm in acquiring the property in question.