I am frequently asked about the difference between a Mortgage Loan Inspection Plan (MLIP) and a survey. Often times buyers will see the MLIP listed as part of their estimated closing statement and they automatically think that a survey is being done. Survey is a loose term when it comes to MLIP. Here are the differences.

MLIP : The MLIP is a sketch of how the house sits on the real estate and is drawn up by a licensed surveyor. It is NOT a full, boundary survey, but helps distinguish the locus structure(s) are actually located on the deeded lot. It shows buildings in relation to easements and rights-of-way. It can also expose setback violations for town, wetland setbacks and special deed restrictions. It shows any encroachments of buildings or driveways.

Full Survey: Full survey is also done by a licensed surveyor. It is costly and time consuming as it has much more detail. The surveyor researches past deeds for clarification of the legal description and whether it shows any easements, ROW’s, etc. They do research at town halls to obtain information about the locus (zoning, setbacks, etc.). They go out to the site and take specific measurements (not sure if they use different equipment), but the full survey has much more information on it than the MLIP.

Please reach out to me at Monica@OceanHouseRe.com or (207) 749-4170 for more questions about the home buying process.