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A land survey defines and records the physical aspects of a property, including its boundaries, dimensions, easements, features, and sometimes topographical information. In contrast, a land appraisal determines the property's monetary value. While an appraiser will often consult a land survey to understand the property's physical specifications, the survey itself does not determine the land's value.

You should always calculate real estate development costs on a case-by-case basis, so there’s no specific formula to estimate your total. You should speak with a local construction manager to see what you’ll need to do in terms of clearing and leveling the land, connecting utilities, and pulling permits for construction. A professional will be able to get you an accurate estimate for land development.

If a buyer pays for a survey, the surveyor they hired will only provide results to them. It’s up to the buyer whether they share the survey results with the seller or not, even if they ultimately walk away from the deal. It’s considered good faith to share the results with the seller, though, especially if you back out of the deal, as the seller can then provide that survey to future interested parties.

Land surveys don’t technically expire. They do serve as a point of reference and a snapshot of your property, though, so as soon as you make changes to your property (and even if your neighbor makes certain changes to theirs), your existing land survey becomes inaccurate, and a new one must be done. Even if you don’t make any changes to your property, many states only guarantee the accuracy of a land survey for five to ten years.