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Residential Construction Loan Survey Requirements for Land and Foundation

Land Survey | Foundation Survey

All lenders require a land survey of the vacant land before construction and a foundation survey after the foundation is poured to assure proper placement of the house on the lot. Typically, the survey must be prepared by a licensed surveyor. The survey must be dated nor more than (90) days prior to the date of the first draw disbursement.

The survey must contain the following:


1. A complete legal description which conforms to the Mortgage document.

2. Address of property, including street name and number and proximity of all boundary streets.

3. The exact lot dimensions, including boundary lines and arcs (must match the plat.) Any variations should be noted.

4. The location and dimensions and identification of all easements as required.

5. All set-back requirements that may appear on the plat.

6. All restrictions not insured in the Title Commitment.

7. Location and identification of all encroachments, including type of improvements compromising the encroachments.

8. The location and dimension of all improvements.

9. Typically the surveyor will indicate the flood elevation of the foundation once it is poured. The flood elevation indicates how high above grade the foundation is and may or may not indicate that flood insurance is required. The surveyors indication of flood zone. requirements must agree with the flood certification certificate.

10. Each survey requires the surveyor's signature, raised seal, registration number and certification to the lender and the title insurance company, its successors and/or assigns, title agent and owner.

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