If you’re buying a home, you’ve probably heard about a loan closing survey. This type of survey is a must-have before a mortgage can be approved and finalized. But right now, there’s a big problem: delays. These delays are slowing down home sales and making the already busy Nashville housing market even tougher.
What Is a Loan Closing Survey?
Before you can officially buy a house, lenders want to make sure the property lines are clear and the land matches what’s in the paperwork. That’s where a loan closing survey comes in. It’s a special survey that shows exactly where the property lines are, so everyone knows what’s included in the sale. Without it, lenders won’t approve your mortgage, and the sale can’t close.
Think of it as the final “check” before you get the keys. The survey protects you from surprises like neighbors claiming part of your yard or buildings being too close to property lines.
Why Are Loan Closing Surveys So Important?
Nashville’s housing market is booming. More homes are being built than ever before, and lots of people want to move here. That means more people need loan closing surveys. But there aren’t enough surveyors to keep up with the demand. When too many people want surveys and not enough professionals are available, delays happen.
These delays don’t just cause frustration. They slow down home sales, delay mortgage approvals, and make builders nervous about finishing projects on time.
Real Stories from Homebuyers
People looking to buy homes are sharing their stories online. Many say they had to wait months just to get a loan closing survey scheduled. One buyer posted on Reddit about waiting four months and counting for their survey. That’s a long time when you’re eager to move in.
Others have had to push back their mortgage closings or even lose deals because the survey didn’t arrive on time. It’s stressful and can cost buyers extra money.
What’s Causing These Delays?
Several factors are making it hard for surveyors to keep up:
1. Too Much Demand, Not Enough Surveyors
The biggest problem is simple: there aren’t enough licensed land surveyors to handle all the requests. Surveyors are busy with not just loan closing surveys but also construction surveys, boundary surveys, and more.
2. Complex Regulations
Land surveying has strict rules. Every survey must follow local and state laws, which can make the work slower. Surveyors must be precise and careful to avoid mistakes.
3. Technical Challenges
Nashville’s land varies a lot — from flat city lots to hilly suburban areas. Surveying these different terrains takes time and expertise. Plus, surveyors need to coordinate with builders, lenders, and city officials, which adds more steps.
How Do These Delays Affect Nashville’s Housing Market?
When loan closing surveys take too long, it affects more than just buyers. Here’s how:
- Home Sales Slow Down: Without the survey, lenders won’t approve mortgages. That means closings get pushed back or canceled.
- Builders Face Pressure: Construction projects can’t finish without surveys confirming property boundaries.
- Prices Could Rise: Delays can create a backlog of homes waiting to sell. Less available housing can push prices higher.
- Buyer Frustration Grows: Waiting months for a survey can cause buyers to lose interest or miss out on other homes.
What Are Surveyors Doing to Help?
The good news is, land surveying companies are working hard to meet the growing demand. Many are adopting new technology like drone surveying and aerial surveys, which help map land faster and more accurately than traditional methods.
To keep up, some companies are hiring more licensed land surveyors or outsourcing work to trusted professionals in other areas. Meanwhile, local governments are also looking for ways to speed up permitting and approval processes, helping surveyors deliver results more quickly.
What Can Buyers and Builders Do?
If you’re waiting on a loan closing survey, here are some tips to help:
- Book Early: Schedule your survey as soon as possible, even before closing dates are set.
- Choose Licensed Surveyors: Make sure your surveyor is licensed and experienced in loan closing surveys.
- Stay in Touch: Keep communication open with your surveyor, lender, and real estate agent.
- Consider Alternative Surveys: Sometimes, other types of surveys like boundary surveys can speed things up in early stages.
Why Understanding Loan Closing Survey Delays Matters
Knowing about these delays helps you plan better. If you’re buying or building, expecting some wait time can save you from surprises. It also shows how important licensed surveyors are in keeping the housing market moving.
Delays aren’t just annoyances—they impact real lives, timelines, and budgets. The sooner buyers and sellers work together with surveyors, the smoother the process will be.
Looking Ahead: The Future of Surveying
With Nashville’s growth showing no signs of slowing, loan closing survey demand will stay high. The good news is technology like survey drones and unmanned aerial system surveys will make surveying faster and easier over time.
Surveyors and city officials are learning and adapting to keep up. Hopefully, with better tools and more professionals, the delays will shorten, helping Nashville’s housing market thrive without unnecessary roadblocks.
Final Thoughts
If you’re involved in the housing market, understanding the role and impact of a loan closing survey is key. These surveys protect buyers, lenders, and builders but are currently causing delays because demand is outpacing supply.
By planning early, communicating well, and keeping an eye on new technologies, everyone can help speed up the process. The housing boom depends on smooth closings, and loan closing surveys are right at the heart of it.
