New ALTA/NSPS Survey Standards in the Works
Discussions have begun within the NSPS (National Society of Professional Surveyors) regarding potential revisions to the ALTA/NSPS Minimum Standard Detail Requirements. The standards typically update about every five years and the tentative plan is to have the final version ready to be adopted by both ALTA (American Land Title Association) and NSPS in the fall of 2020 with the new standards going into effect sometime in February of 2021.
The NSPS review board will consider and discuss all comments and suggestions offered, mostly by surveyors, across the country at their meeting this month. Currently, there are about 80 suggestions. They range from minor verbiage and punctuation changes to defining what constitutes an update of survey, clarifying locating utilities and appurtenant easement responsibilities (which became a bit muddled in the 2016 standards), adding and revising some Optional Table A Items and further efforts to make some of the responsibilities less open to interpretation. After reviewing and whittling down the list of suggestions the formal NSPS committee will meet later this month with the ALTA committee to begin their process of reviewing suggested changes.
As an industry leader, NV5/Bock and Clark keeps current with potential alterations in any new versions of the Minimum Standard Detail requirements. We will use this newsletter as one informational venue to keep users of the survey product apprised of changes. As with past revisions, there is always a period of adjustment for both surveyors as they learn of new or different responsibilities and end users who rely upon and interpret what a surveyor is reporting.
The new proposed standards will likely have an effective date in February 2021. Prior to that date, if a surveyor receives a written authorization to proceed the survey will still be performed to the 2016 standards regardless of the date of survey. Surveyors engaged by a written authorization after the effective date will be required to provide surveys reflecting the new standards. For the purpose of proposal and engagement on these projects, the 2016 standards become null and void.
When the FINAL draft of the new standards is adopted and approved by ALTA and NSPS, NV5/Bock & Clark will post the new requirements on its website and share it on multiple platforms. We typically prepare highlights of the most critical changes and will make that available. As in the past, we will be offering seminars, classes, webinars, etc. to help the industry to become familiar with the changes. Getting a good understanding of the changes is vital to anyone who reviews and relies on ALTA/NSPS survey products to avoid delays and miscommunications. Please feel free to reach out to either your NV5/Bock & Clark Project Manager or Client Service Representative with any questions. We will begin scheduling training sessions for our clients that qualify for CLE credits in some states beginning in the fall of 2020.
Industrial Hygiene – Don’t be caught by surprise
The terms have been worked out the deal has closed and now the property is part of your portfolio. In a perfect scenario plans can move forward and the next phase of the project will be underway. However, it is rare to find a “perfect” scenario. To avoid delays or unexpected costs it is wise to consider the industrial hygiene of a property and NV5 has the professionals to assist.
Certified Industrial Hygienists are highly qualified, trained professionals that look beyond the shiny façade and street view of a property to see what may lurk beneath. They specialize in mold and asbestos assessments as well as lead, radon and drinking water testing and other related products that impact the health of the building as well as the health of its occupants.
Requesting any of these reports on the front end can save time, money and aggravation down the road. For example, a small multi-family property may be on the market and several buyers are interested. During the due diligence, a mold study is requested and the building is found to be fully contaminated with black mold necessitating tens of thousands of dollars in remediation before future occupancy. For some, this may kill the deal, for others it may help in improving the terms of the deal as the purchaser may negotiate a better price to offset the post-purchase clean-up.
In the United States there are approximately 7000 Certified Industrial Hygienists and of that number roughly 50% work for the government. Finding the right professional in your market to provide complete and accurate reports can be difficult. A call to NV5 can give you piece of mind that you are getting an experienced professional to prepare a complete report at a competitive price. NV5 Environmental prides itself in employing one of the most experienced Industrial Hygiene Teams in the business.
NV5’s National Industrial Hygiene Services include:
- Mold Assessment/Studies
- Asbestos Assessments
- Lead Testing
- Drinking Water Testing (Lead)
Representative projects can include:
- Apartment/Multifamily Housing Complexes
- Fannie/Freddie projects
- HUD projects
- Pre-Renovation/Remodel/Restoration Reports
To request a quote please providing the following information:
- Property address and/or location
- Size of building (square footage)
- Number of units (multifamily housing)
- Use of the property
- Date of construction
Don’t be reactive, be proactive and consider requesting reports related to industrial hygiene early in the due diligence process. Contact us to learn more. 1-800-787-8397 ext. 854.
NV5/BOCK & CLARK NEWS AND UPCOMING EVENTS:
- Stop by and say “hello” to Scott Kardos at the CREW Dallas Golf Classic LPGA Pro-Am. NV5/Bock & Clark is a sponsor and is offering some on-course fun with a “Guess the Tees” game.
- Jeff Echko and Richard Hazel will be on hand at the MBA of NY Wine Gala held at the Prince George Ballroom in NYC on October 3rd. Jeff and Richard will be pouring a Trefethen Chardonnay and Chappelet Mountain Cuvee at their table.
- NV5/Bock & Clark is a proud sponsor and exhibitor at the upcoming Minnesota Real Estate Institute being held Oct 31 – Nov 1 at the St. Paul RiverCentre. Lori Gabor will be there to meet attendees.