Most importantly one needs to understand the difference between a LAND SURVEY and an ILC.
What is an ILC?
An Improvement Location Certificate (ILC) provides essential information related to property boundaries and structures. Licensed Land Surveyors perform ILC’s and they are typically used during real estate transactions. These assure the buyer’s mortgage company and title insurer that the property is correctly located on the plot identified in the purchase contract. An ILC does not confirm property boundaries but does confirm the location of buildings, and other structures, like outbuildings in relation to property boundaries. An ILC also verifies the legal description for title accuracy and documents and confirms all easements. The measurements in an ILC are estimates, not exact numbers, and cannot be used by the property owner, an ILC is specifically for the title insurer and the mortgage company.
What is a Land Survey?
A Land Survey is a comprehensive and precise measurement of a property’s boundaries and features that a licensed surveyor conducts. The survey establishes precise property boundaries, locates improvements, and identifies any encroachments. Property lines, topography, monuments/markers, and legal descriptions are included in the survey. The survey provides exact measurements and is suitable for legal purposes.
How do I decide what I need?
You first need to determine which survey you need. Your realtor, lender, or attorney can help you decide on this. Homeowners sometimes mistakenly think an ILC provides them with information to build structures, such as sheds or fences on their property or along shared property lines. When purchasing a home, buyers should be informed that an ILC is not accurate for making this determination and they should order a full survey before undertaking any property improvement projects.
Due to the complexity of a Land Survey vs. an ILC the cost difference is significant. ILC’s usually run from $800 – $1200 however a land survey costs significantly more and the cost is based on the complexity and location of the property.
TSD Surveying is happy to talk with you about your surveying needs.
Send us an email at info@tsdsurveying.com or call us at 970-590-2197.