Most mortgage lenders will require you to get a mortgage survey before the loan is approved. <\/b><\/p>\n

The sole purpose of this survey is for the lender to have a legal outline of the subject property including the land and boundaries. <\/strong><\/p>

When a new parcel of land is being developed, a survey is formed to define the out spread of the property to understand the legal structure of the property.<\/strong><\/p>\n

Lenders often want to find out what structures are on the land and where they are located. <\/b><\/p>\n

For example, if there is a deck, pool, porches, shed or backyard on the property, the lender will always want to know their size, location, and type because they can affect the value of the property.<\/b><\/p>\n

 The mortgage surveyor will conduct a brief inspection of the property which might take less than twenty minutes. <\/b><\/p>\n

They combine their findings with information about similar local properties and comparables. <\/b><\/p>\n

Sometimes, restoration value is also calculated that can be used as part of your home insurance.<\/b><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t