In Jensen Beach, the typical home sells between $285,000 to $350,000. Most prospective homeowners apply for a loan with a bank or another lender. Almost all lenders will require a survey of the intended property. 

A survey verifies that the property described in the paperwork matches. Surveys also play a part in the appraisal process. 

Banks and lenders do not want borrowers to be upside-down on their mortgages. An upside-down mortgage is when the borrower owes more on the loan than the value of the property. Lenders would sell the property to recoup losses if the borrower defaulted on the loan. 

Just because no one is forcing your hand does not mean you should skip the survey. In addition to the reasons that lenders require surveys, you should get one to verify what you are buying. 

For instance, your soon-to-be neighbor has a fence between your backyards. You should not assume that the fence marks your legal boundaries. Some individuals place their fences a few yards in because of trees, large rocks, and other hurdles.

Likewise, the survey will show you where easements are should some exist on your property. You might be building your dream backyard only to find out mid-construction that there are city lines running through your yard.

Flood insurance is often a requirement for a mortgage. It is another way lenders try to reduce the risk of the borrower defaulting on the loan. If a homeowner has to pay for emergency flood repairs or loses their home, they may forfeit paying the loan back.

Unfortunately, it is the homeowner, not the lender, who pays the monthly insurance premiums. The provider determines your rate based on where you live, your risk of experiencing a flood, and the cost to cover damages. 

It is not unusual to find out that insurance companies are using outdated information. Properties change, and yours may be less at risk than it was 20 years ago. Likewise, the insurance company may have too much coverage if you no longer have structures, like a shed, or are less at risk, such as getting rid of a hazardous tree. 

How does your dream backyard look? Before adding a pool or another water feature, you should check for easements on your property.

A survey can also make it much easier for you or your landscape manager to estimate supplies and an accurate project deadline. In cases of big renovations, your landscaper may require a survey to verify the information before breaking soil. 

You also do want to get along with your neighbors. Your dream landscape may be scenic to you, but your neighbor likely has their own vision. A few flowers over a property line are not worth waging war with the family next door. 

Do you have room for an addition? A survey will help you and your construction company design structural changes on your property. It can also help you visualize the new construction along with the topographic information. 

You do not want to make the mistake of putting up a garage that is partially on your neighbor’s property. They have the right to request it removed, which could cost you thousands in demolition and reconstruction. 

Knowing where your easements are, if any, is another benefit. Part of your buying terms would have mentioned that a party would need access to an area of your property. If you built something on top of that access point, you might also be responsible for removing it.