Now is the Time to Complete Your ALTA Surveys
Many lenders require an updated ALTA/NSPS Land Title (ALTA) Survey to be completed within the last 90 days before any new capital is granted. christopher’s Survey Division remains fully operational and is prepared to perform any ALTA surveys needed for our clients.
We have found our developer and owner clients are continuing to borrow money right now for one of two main reasons:
1. Interest rates are low, so it is prime time for refinancing portfolios and/or buying new land; or
2. Landowners are running low on capital as this dynamic market places challenges on rental spaces and collections.
As ALTA surveys are usually required by the bank when borrowing money, moving forward with ALTA surveys during this time will help keep your project on track.
What are ALTA Surveys?
ALTA/NSPS Land Title Surveys are a particular type of survey performed by a licensed surveyor. These surveys show a current view of all the above-ground improvements on the property and measurements to each of the property lines. The survey also shows all the granted easements on the property that give rights to someone else to enter and use the property in some way. This is important to the lender because they need to know if there are any risks or liabilities due to encroachments or title issues.
To date, the christopher survey team has performed over 1,200 ALTA surveys in and around Greater DC, the Richmond area, Maryland and jurisdictions in West Virginia. Projects have ranged from healthcare, residential, commercial, hospitality, places of worship and more.
Reach out to Chris Fillmore, LS, Vice President of Surveys, to schedule your ALTA Survey or start a conversation on your needs: email@example.com or 540.479.4396.