ALTA Land Surveys
One of the tools used to assess the risk levels of commercial property construction and development is the American Land Title Association (ALTA) environmental survey, also known as ALTA land title survey.
Before offering a loan to finance the construction of any commercial property, insurance companies and other types of lenders typically like to make sure that their investment is secure, that there is little to no risk of financial loss. As such, they take measures to assess the level of risk that they would be exposed to in financing the construction of a commercial property. One of these measure is the ALTA Land Survey.
Originally developed in 1962, the ALTA survey is an in-depth and extremely thorough assessment of the potential construction property and is executed only by a registered licensed surveyor. The licensed surveyor uses specific predefined standards established by ALTA and the American Congress of Surveying and Mapping (ACSM) in conducting the assessment.
Upon conclusion, a report is then generated stating if there were any survey risks detected that could financially impact the lenders negatively.
Some of the standards that are dictated by the ALTA survey and assessed by the licensed surveyor include:
- Site boundaries: The surveyor should measure the boundaries of the actual site to make sure it matches the construction plan.
- Right of way and access: The surveyor should ensure that there is easy access to the proposed site as well as document the types of access. Note should be made of any divided streets, highways, or public utilities close to the site.
- Walls, buildings, and fences: Note should be taken of walls, buildings, and fences within five feet of either side of the boundary lines should be noted. Buildings located within the proposed site as well as any potentially encroaching structures such as outward opening doors and windows should also be noted.
- Monuments: Any monuments or artifacts that may be of historic significance located on the proposed site should be noted by the licensed surveyor.
Our Property Condition Assessments are performed by licensed architects part of the AIA. That means professional, experienced and experts in their fields.
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At Essel Environmental, we know how important an ALTA land survey is in getting the backing needed for commercial property construction. We have licensed surveyors at our disposal able to perform the necessary assessments in an ALTA survey and provide relevant reports. Contact our environmental engineers today for more information about our services.