During the real estate transaction closing process, you should receive a plat map, which is an invaluable source of information about the property. The lot size and boundary lines of a property are determined by the plat map, which is why it is so crucial.
Keep your plat map visible within the tangle of closing documents. To effectively analyze the paper, you need, at minimum, to be aware of what a plat map is and how it’s utilized. Problems with your plat map may have a long-term impact on your land’s use and property value. Below is a summary of all the information you want regarding plat maps and their application.
What Distinguishes a Plot Plan from A Plat Map?
During your closing process, you should evaluate two distinct but equally crucial property maps: a plot plan and a plat map. Important property details are included in both, including your home’s legal description, measurements, and location regarding the neighborhood. Such information is commonly shared in new societies such as Kings Town, during the development stage, to bring in more investors. The more information buyers have about the property the better chances of them being sold.
A plot plan, as compared to the other, describes a single land plot; picture it as a close-up of just your property. You can see the locations of any existing structures, your plot’s boundaries, and any rights of way. A plat map, on the other hand, shows a number of plots in one location.
A single plat map can depict a town, a neighborhood, or a collection of five properties, depending on its size. Plat maps can also show you how to use the land, including whether or not you can put up more buildings there.
When Do You Need a Plat Plan
When you purchase a home, your plat map is initially given to you during the closing procedure. Throughout this procedure, you should closely examine the plat map because its contents will dictate what you ultimately purchase. If you intend to subdivide your property, apply for a building permit, or refinance your house, you’ll need the plat map once more.
You will need the plat map to confirm the property in your sale when you close on a house. The lot’s measurements and the actual property lines will be displayed on the plat. You should make sure that:
- The buildings on the site are constructed inside the boundaries.
- The site is free of encroachments, and an existing easement does not obstruct your property
What Is Included In A Plat Map?
Examining your plat map ought to provide you with precise details about your property:
Location
Your lot number, parcel number, neighborhood name, street name, and street number.
Orientation is the angle at which your property faces the four cardinal directions: north, south, east, and west. Knowing how the sun will fall on your land and its structures—whether they will be sun-starved or sun-soaked—is crucial.
Land Size
The length and width of your borders. The plot’s square footage must be mentioned as well. Make that everything is constructed inside the land’s boundaries and that the seller has indicated the size of the property.
Flood Zones
These have an impact on where you can develop new construction, how much your house insurance will cost, and its resale value. Purchasing in a flood zone isn’t always a terrible idea, but you should be aware of any flood zones that may affect your land.
Open Spaces
These are natural regions intended to protect wild landscapes; they are also referred to as “greenbelts.” These could be wetlands, wildlife refuges, parks for recreation, or preserves and reserves.
Recreational Areas
These include parks, playgrounds, and athletic fields for baseball or soccer in your community.
How precise are maps of plats
Your plat map’s accuracy will vary depending on when it was last updated. You can generally trust a plat map to be fairly accurate if it was made within the last five years. However, the likelihood of a discrepancy increases with age.
Weather and other causes can cause changes in the terrain throughout time. It’s possible that nearby properties have undergone construction, local governments have modified roads or alleyways, and utility providers have rearranged the placement of utilities on your land.
Obtain a survey of your plot if you are unsure about the accuracy of your plat map. You’ll receive the most precise information about your home this way.
