Refinancing and ALTA Surveys

The Year 2014 –  A Great Year for Refinancing

Alta surveys and refinancingSo far this year of 2014, has been a great year for home owners and companies alike to either refinance or qualify for a loan.

An ALTA survey usually attends a refinance or new project.  This gives the lender additional information about the property to base their approval on.  Some items that are gathered by an ALTA survey are as follows:

  • Size of property
  • What improvements if any are located on the property
  • Utility services – this can be done by using additional plans or hiring a utility company to show where underground utilities are located
  • FEMA flood plain issues if any – This allows the lender to see if any of the property falls within a hundred (100 Year) Floodplain
  • Height and dimensions of all building that are located on the property
  • Additional improvements, such as parking stalls, handicap locations, signs and all other kinds of improvements

Salt Lake City alta surveysOther items are located on an ALTA survey as well.  The items gathered are dependent upon the needs and wants of the lender.  These items are chosen off a checklist of Table A items.

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