When purchasing real estate on Lake Martin some lenders will require a survey of the property. If the property is in a platted subdivision like Kennebec, The Ridge, Windermere, Stillwaters, they are typically optional. With driveways, boat storage areas, docks, boathouses and other site improvements it is always a good idea to get a closing survey showing all structures on the property.
Lake Martin Survey Example
Benefits of Survey
By getting a survey, you not only locate your property lines and corners, you will discover any encroachments, easements, or right-of-ways on the property. Encroachments need to be corrected and recorded prior to closing on your purchase. The most typical encroachments we see on Lake Martin are driveways, golf cart paths and boat ramps across property lines. Easements and right-of-ways are generally not problematic, but need to be recorded. A survey is also a useful tool when applying for an Alabama Power Shoreline improvement permit.
Survey Cost
A simple land survey can cost a few hundred dollars depending on size of lot. A more detailed closing survey usually starts around $400-$500. The cost will increase depending on the size of lot, house, topography and any accessory buildings. It is a good idea to get a survey when buying property on Lake Martin as part of your due diligence. Over the last 20+ years as a Realtor on Lake Martin, I have seen a lot of things discovered in this process. They include shared driveways, boat ramps, property corners that have been moved by a neighbor, plus many other things.
In the end, while a survey may not be required, it is always a wise investment. You will discover any surprises as a buyer and have peace of mind knowing exactly where the property corners are located. If you are selling on Lake Martin, it is best to identify any issues that need to be resolved prior to marketing your home for sale. If you are a buyer, it is your responsibility (with the help of your Realtor) to perform your due diligence and verify there are no encroachments on the property you are buying.
Simply put, a survey is a useful tool that can clear up a lot of confusion.
Are you looking for a lot for sale on Lake Martin. View complete list of Lake Martin lots for sale.
Miller Dark specializes in listings and selling waterfront property on Lake Martin. He is a licensed Broker with RealtySouth-Lake Martin. If you have any questions call Miller at 256-750-3030.
