The real estate market in Calgary is setting new records almost every month, with gains across property types. Many experts believe that there isn’t enough stock to support this demand, which remains true to a certain extent.
The real estate supply is tight and this is causing the prices to increase. Consequently, home buyers are rushing to own a property and homeowners, well, are happier to sell it than ever.
In April, detached home prices increased by $73k in Calgary, across the city. This is a higher than 12% increase compared to the start of the year. And naturally, it’s about to increase as the demand increases.
Talking about records, row houses in Calgary set a record high this year, an almost 100% increase when compared to last year. Yes, the real estate market is booming and this may be just the right time to sell your property.
However, before you go out into the market searching for buyers, note that you need a property survey describing the details of your property to the buyer. This survey isn’t mandatory to be shown to a buyer, but you’ll need to present it when you’re signing a deal.
Let’s address this more clearly.
Do I Need a Land Survey to Sell a Property
A land survey gives you a detailed picture, including the boundaries and structures, of your property. And this can be a helpful document in many regards.
Before you sell your property, a land survey can help you assess whether your property is up to the city code or not. If you’ve implemented any changes on your property recently that aren’t included in your property survey, you will need to get it updated. A property survey should accurately represent the current status of your property, and any aspects of it non-compliant with the city code should be solved.
As a property seller, you will need to present an accurate, updated survey of your property when making any real estate transaction. If you don’t have an updated survey, you won’t be able to sell your property.
One aspect where you can get by without a survey is listing your property. If the buyers ask for a survey report, you can refuse to present it. However, this is unproductive and will only delay the process of selling your property. Plus, even if you agree to get a survey done later, the potential buyer may choose to go with another property where the document is available.
In conclusion, while you aren’t required to have a land survey unless you want to make a real estate transaction, it never hurts to have one. In contrast, it’ll only make the process of selling the property faster
If you want to get your property surveyed, make sure to hire a reputable surveyor. Core Geomatics is a survey company in Calgary, equipt to help you with all your surveying needs. Contact them for further assistance.