Surveys are Critical
The importance of a good survey is often misunderstood. A survey is key to identify the exact boundaries of your property. Just as important, a survey will tell you if any encroachments or easements exist and provide details. If another party is using your land or has the right to use your land, you must know about it. Utility companies will have an easement and you must make sure you do not build or improve over this portion of the land.
A Title Company will require a survey to provide title insurance. If you are financing, your lender will require a good survey to ensure the aspects of the collateral on your note. Most Title Companies and lenders will accept an existing survey if it is less than 10 years old and no changes to the property have occurred.
The typical survey on a standard size residential lot is around $500-600. For waterfront, an elevation certificate to identify the flood plain, if any, is an additional $200-300.
On Lake LBJ a survey will also identify fill area if it exists. Fill area is created due to retaining walls having a different boundary than the original waterline of the lake. In some areas fill area can be owned by another party and requires a purchase to provide a full deed to a property. This is another great reason to use a local expert when considering waterfront property in the Highland Lakes.