If you want more detailed information about your property, you will need to consider an accredited land title survey, like ALTA/ACSM. Considered the gold standard in land surveying, the ALTA ACSM survey is specifically designed for commercial property, as it follows a consistent set of standards and codes to be conducted for certain purposes, like construction. You need to make sure that you are hiring experienced and knowledgeable surveyors who have a good track record of meeting the survey standards set by authorized institutions and the government for conducting this survey.
The ALTA ACSM survey is also considered a due diligence survey, as it is typically conducted to fulfill a legal requirement, especially when purchasing, selling, or developing any form of property. It may help evaluate the potential of commercial property, as well as in establishing the assets and liabilities of the owner. The survey is typically commissioned to gain information to setback requirements, county zoning laws, and to determine the property’s height requirement. All ALTA/ACSM surveying methods guarantee compliance with the guidelines provided to surveyors.
Typical boundary surveys may be good for residential purposes, but they may not provide sufficient information required by lenders, purchasers, insurance companies, and other stakeholders looking into commercial property. An ALTA ACSM survey can reveal a lot of critical information about the property, such as property boundaries, easements, encroachments, encumbrances, land improvements, features, roads, and any evidence of use. It may disclose the names of the entities who own neighboring properties, as well as other critical information like legal and access routes, zoning classification, water boundaries, flood zone classification, and existence of cemeteries.
The ALTA ACSM survey can be helpful to insurance companies when they need to know about your property for claims, documentation proofs, security, and other purposes. Purchasers and lenders may refer to the survey to determine the benefits of owning the property and to examine any potential risks. With this survey, all involved parties can make informed decisions about your property.