What does a lender require to ensure that no encroachments exist?

A lender requires a full-staked survey to ensure that no encroachments exist because this type of survey provides a detailed representation of the property boundaries, the location of structures, and any potential encroachments on neighboring properties. A full-staked survey marks the corners of the property and includes the dimensions and any structures that are present, allowing the lender to verify that all buildings and improvements are within the legal boundaries of the property and do not infringe upon adjacent properties.

While a title report may provide important information regarding legal ownership and any claims or liens against the property, it does not specifically indicate physical boundaries or encroachments. Similarly, a mortgage commitment outlines the terms of a loan and its approval but does not address boundary issues. An appraisal report assesses the property's market value but does not provide the kind of detailed boundary information that a full-staked survey does. Therefore, the comprehensive detail provided by a full-staked survey is essential for ensuring that there are no encroachments that could lead to legal disputes or affect the property's value.