Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago on . Most recent reply

User Stats

444
Posts
81
Votes
Jeffrey McKee
  • Real Estate Agent
  • Plano, TX
81
Votes |
444
Posts

Survey and appraisal needed

Jeffrey McKee
  • Real Estate Agent
  • Plano, TX
Posted
I have a deal under contract in Dallas tx. IM looking for an affordable appraiser that is investment savvy. Or if there is a website that provides an accurate Value of the property please suggest. I also need a survey any suggestions. Thank you please note I am not using a conventional loan I'm using seller financing.
  • Jeffrey McKee

Most Popular Reply

User Stats

33
Posts
15
Votes
JH Bridge
  • Surveyor
  • Denver, CO
15
Votes |
33
Posts
JH Bridge
  • Surveyor
  • Denver, CO
Replied

@Jeffrey McKee ,

Is this a commercial deal, raw land, a large parcel?  The civil engineering firm route is a good way to go, as they either have surveyors in-house, or subcontract the same one/s for all their jobs.

Most of the deals that are contingent on a survey are larger commercial deals. Please note that there is a difference between a full blown "survey" & an Improvement Location Certificate (ILC). The "survey" includes the surveyor going through title work, easements, encumbrances, boundaries & the like and is a recorded document with the county. But also runs significantly more money, upwards of $1000 or more. And sometimes all you need to satisfy the contract requirement is an ILC. These are mostly done on SFR in established neighborhoods. An ILC will find the property corners and place any structures on a drawing for you with dimension lines & property lines. This helps to see if there is any glaring setback or encroachment issues. That being said, they are not recorded & do not hold in court, but are also reasonably priced, $250-500ish (prices vary from state to state & are very rough ballpark figures).

I like to explain it this way, think of an ILC as a 'land inspection'.  An inspector can look at the house, tell you this & that could be fixed, but holds no liability.  S/he just warns you of any obvious, serious problems. ILC's do that for your land.

Look into what you really need & that will determine your course of action going forward.

Hope that helps some.

Loading replies...