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CHECKLIST:
What You Should Know
. . . Before Making Your Decision!
In the last issue of LAND RUSH, we suggested 11
questions you should ask before making your land purchase decision.
In this issue, we'll cover the first one - about surveying - in
depth. Here are the eleven questions again (for reference) along
with our advice on the first one.
1. Has the property been surveyed
recently?
Property in North Carolina is surveyed
using a
system called "metes and bounds" or "distances & directions"
(also referred to as "leaps & bounds"). A simple deed might
read "beginning at an oak tree, then North 500' to the center of
the creek, then East 300' to a pile of rocks, then South 500' to
a pine stump, thence West 300' to the point of beginning. A 200
acre tract might have a 2-page long legal description.
Many of the large tracts being
offered for sale in our mountains have not been surveyed for many
years. In fact, the "legal description" on many old deeds simply
reflects a long-forgotten owner's written description of where he
believed the property lines to be.
We've seen legal descriptions that
call for a corner located at an "old clay root" and even a "snow
bank." Maybe that property line could only be located in the winter!
Ha!
More importantly, surveyors of
50-75 years ago did not have accurate measuring instruments. There
were no laser transits or GPS devices to bring surveys to within
a hair's breadth of perfect.
The result was that the boundaries
on adjoining tracts of land did not match up. That created either
a boundary overlap claimed by both owners or a strip claimed by
neither owner ("no man's land").
Property taxes also played a role
in the descriptions on old deeds. Property taxes were levied on
the amount of land claimed and listed each year by property owners.
An owner with 175 acres might have claimed only 100 acres, as a
"tax relief" measure. Over the years, and subsequent changes in
ownership, it continued to be described as 100 acres, more or less.
Imagine your surprise when you think you're buying 100 acres for
$250,000, then learn from a survey that you'll have to pay $437,500
for 175 acres.
A new survey is likely to identify
any boundary line disputes, inaccurate measurements, or other impediments
to obtaining a clear understanding of the physical size of the property.
The surveyor's steps include 1)
research of the property deed including adjoining landowners, 2)
field work to locate corners and measure boundary lines, and 3)
in-house computer computations and plat production. You see only
the last item, a drawing of the property showing all corners and
measurements.
Boundary lines should be marked
with either "flagging" or paint and blaze marks on trees. A single
line or blaze indicates a boundary line. Three lines or blazes indicate
the presence of a corner.
Survey costs vary by the time required
to complete all aspects of the job. In the northern mountains, $50.00
- 75.00 per acre might be a fair range.
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Previous Issue of Land Rush
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UPCOMING TOPICS WILL INCLUDE:
2. What is the topography of
the property?
3. Is the property accessed
by public road or right-of-way?
4. How much are the property
taxes each year?
5. Are there any restrictive
covenants or zoning on the property?
6. Will sellers finance the
property or do they expect cash?
7. How much earnest money is
required with a purchase offer?
8. What, if any, utilities are
provided?
9. How much are the closing
costs to complete the transaction?
10. Are there any hunting leases
in effect on the property?
11. Are there easements or rights-of-way
for the benefit of others?
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