Important information concerning surveys

and the real estate contract

Survey. On or before Survey Deadline (Sec. 2.3), [_] Seller [_] Buyer shall order or provide, and cause Buyer (and the issuer of the Title Commitment or the provider of the opinion of title if an abstract) to receive, a current [_] Improvement Survey Plat [_] Improvement Location Certificate [_]__________________ (the description checked is known as Survey). An amount not to exceed $_____________ for Survey shall be paid by [_] Buyer [_] Seller . If the cost exceeds this amount, [_] Buyer [_] Seller shall pay the excess on or before Closing. Buyer shall not be obligated to pay the excess unless Buyer is informed of the cost and delivers to Seller, before Survey is ordered, Buyer's written agreement to pay the required amount to be paid by Buyer.

"Improvement survey plat" means a land survey plat as defined in subsection (12) of this section resulting from a monumented land survey showing the location of all structures, visible utilities, fences, hedges, or walls situated on the described parcel and within five feet of all boundaries of such parcel, any conflicting boundary evidence or visible encroachments, and all easements, underground utilities, and tunnels for which properly recorded evidence is available from the county clerk and recorder, a title insurance company, or other sources as specified on the improvement survey plat.

The majority of land transactions in the state of Colorado close with a document known as an Improvement Location Certificates (aka ILC or Mortgage Survey, Mortgage Loan Inspection). An ILC is of fundamental importance, to disclose existing facts about a parcel of ground. An ILC is an inspection of a property conducted by a Colorado Professional Land Surveyor, to locate improvements in relation to boundary/deed lines. This is usually done to meet some requirements of either a title insurance company, lender, investor, property buyer or as stipulated in a contract to buy and sell real estate.

Its' sole purpose and intention IS NOT to determine the exact legal limits of the property, but to serve as an inspection of the property to disclose any adverse matters from a land surveying perspective, such as encroachments onto or off of the property. The ILC is relatively inexpensive and provides all interested parties invaluable information about the property.

If, at any time Colorado Engineering & Surveying Inc. conducts an ILC, we will credit the ILC cost back towards the fee of an Improvement Survey Plat. Many clients opt for this option, because the turnaround time for an ILC is only a few days, as compared to several weeks for a Survey Plat.

COPLS.COM - Colorado Professional Land Surveyors dot Com / Colorado Engineering & Surveying currently has conducted over 300,000 individual surveys. Occasionally a client may desire a historical survey or document in the process of their Due Diligence.

Call our office to determine if copls.com has conducted a survey on the property in the past.

Colorado Engineering & Surveying (copls.com) conducts a full range of professional land surveying; Residential, Commercial, Municipality, Construction and ALTA / American Land Title Association Land Title Surveys.