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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.

A professional land surveyor ensures accurate property boundaries and prevent legal disputes.

Above all, the downside to building a new house is a longer timeline. You need several months to finish the build, depending on the supply chain and labor availability in the meantime. Building a home compared to buying one is also more expensive, both in the building process and when it comes to mortgage rates and property taxes.

A few different types of land surveys can help determine certain features and boundaries of your property. These include:

• Boundary surveys describe the actual borders of a property. These are generally required when trying to get construction permits issued. 

• Location surveys provide much of the same information as a boundary survey but also include in-depth information about any improvements made to your property. 

• Mortgage location surveys are usually required by lenders and title companies before financing or offering an insurance policy. 

• Site-planning surveys are done before applying for building permits and can be issued before any major home improvements. 

• Topographic surveys provide a formal map of land elevations. It can also describe the location and size of natural features and any land improvements.