In one sentence
The licensed professional preparing the land survey that title insurers and lenders rely on.
The longer version
The surveyor certifies the ALTA survey to the lender, borrower, and title company, showing boundaries, improvements, and encroachments. The survey feeds title exception clearing and confirms the improvements sit within their lot lines.
Survey turnaround is a common long pole, so the survey is ordered early and tracked as a dated diligence item.
Common questions
- What does a surveyor provide for a commercial loan?
- A survey, usually to ALTA/NSPS standards, showing boundaries, improvements, easements, encroachments and access, certified to the lender and title company.
- Why must the survey be certified to the lender?
- Certification gives the lender the right to rely on it and supports deletion of the title policy's survey exception.
- How long does a survey take?
- Often several weeks depending on site complexity and Table A items, making it one of the earliest items to order.
Keep reading
- The due diligence checklist, built to be runChecklists as systems, not documents.
- The commercial loan closing processThe five stages from term sheet to funded.
- The commercial loan closing checklistWhat goes on the list and who owns each line.
- Due diligence softwareThe request list, the owners and the dates in one place.