Do you need an ALTA survey when buying commercial property?
In closing on a 2 parcel strip center around 1 acre of land. 

There are another 3 parcels in center "not owned by me." 

I am getting a mortgage on it and lender does not require a survey to be done so one was never ordered. 

I can still get extended title insurance but there will be exclusions without a survey. What are the major risks of not getting a survey? Does everyone normally get a survey done am I crazy if I don't get one?
[{"id": "ithnwhu", "text": "The survey, at its most basic, will confirm whether or not the property you think you're buying is actually the property you're buying. You're not going to know this by reading the legal description in the title commitment/policy.\n\nThe survey will also identify any issues with the property (legal description doesn't close, someone's built something on your property, your buildings are encroaching on someone else's property, etc.). If you're looking to redevelop all or parts of your property in the future, the survey will show you where easements or other restrictions may exist.\n\nTitle insurance is great and necessary, but if you're spending over $1M on a property, why wouldn't you spend $10k to make sure you're buying what you think you're buying?", "replies": [{"id": "itj2my0", "text": "Yep. Many exceptions won\u2019t be removed without an ALTA survey.", "replies": [{"id": "itjaokq", "text": "Yeah I am surprised my lender is not requiring one as they never ordered one. I guess I will be ordering one as part of my DD. Do I need an ALTA to remove the exceptions or can I do a more basic survey?", "replies": [{"id": "itjedzs", "text": "You should get an ALTA. A boundary survey helps you find the 4 corners of the land, but doesn't really give you any title protections and misses most of the other things you'll want to see on the survey.", "replies": [], "depth": 4}, {"id": "itl9o0z", "text": "What\u2019s the loan amount? Sub $2m is basically signature loans so I\u2019m not surprised", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ithvnmt", "text": "Buying property and not doing the DD to confirm what you are buying would be crazy af", "replies": [{"id": "itk3vkp", "text": "Alta boundary survey is a must. Three other parcels in the middle. May just be reciprocal easements.", "replies": [], "depth": 2}], "depth": 1}, {"id": "itikxlb", "text": "Definitely highly recommended, and you\u2019ll learn the value that, the one time you didn\u2019t get it.", "replies": [], "depth": 1}, {"id": "itizd8c", "text": "If you're paying cash? No.  But it would be reckless not to do so.", "replies": [], "depth": 1}, {"id": "itj7god", "text": "Yes. Lenders require.", "replies": [{"id": "itj8kmx", "text": "I asked my lender and they said they do not require a survey, I am surprised by this but still want one.", "replies": [], "depth": 2}], "depth": 1}, {"id": "itjhwb5", "text": "For one acre I would expect $7-10k for an ALTA plus topo.  Ask for the pdf and dwg files for your records.  Doesn\u2019t hurt to ask title for a quick deed chain either and then have civil look thru the old legal descriptions for discrepancies.\n\nIf you\u2019re on a tight budget, you can ask civil to do a \u201cpaper\u201d encumbrance map where they just plot the easements and draw the land based on the assessors maps without field verification.  This doesn\u2019t meet ALTA standards and won\u2019t be accepted by title, but will help you visualize the easements and hopefully have some piece of mind.", "replies": [{"id": "itjia34", "text": "One other comment is that the ALTA won\u2019t get you a clean title report.  If you can\u2019t get comfortable with the exceptions yourself, a transaction attorney can also weigh in and advise you if there are any dealbreakers and what kind of endorsements you want from title on the final owner\u2019s policy.", "replies": [], "depth": 2}, {"id": "itjmief", "text": "Do I need a topo for the title exclusion\u2019s to be removed I thought that was included in an ALTA?", "replies": [{"id": "itjnw1m", "text": "The ALTA will just visually plot the easements on a survey plan, confirm the PL/boundaries, plot encroachments from adjacent properties, etc. based on the ALTA checklist that you work out with your surveyor.  In some cases for extended coverage the title company will require a recent ALTA but the ALTA itself was won\u2019t help you remove exemptions in most cases.  \n\nIf you\u2019re looking to get exceptions removed, ask title if there are affidavits that the seller can sign, read through the exception docs to see if they have expirations, or just ask title how to remove the exemption of concern.  If you can\u2019t get exemptions removed, then you go to endorsements for coverage from title.  This is really murky territory and I need transaction attorney help at that stage.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]