A Real Property Report (RPR) is a legal document that clearly illustrates the position of the building in relation to the property lines and municipal Bylaws. It takes on the form of a plan or illustration of the various physical features of the property, including a written statement detailing the surveyor’s opinions or concerns.
See Example of a compliant RPR here: RPR image
A few benefits to getting a Real Property Report (RPR)
- Problems are identified and can be resolved before a sale is finalized.
- Identifies accurate locations and dimensions of buildings, improvements, right-of-ways, and encroachments relative to boundaries of their property. Any issues regarding the dimensions of the building, improvements, and right-of-way can be resolved before the sale of the property.
- Home buyers know the physical dimensions of the property, and have peace of mind knowing that their home is within the legal descriptions and boundaries of municipality Bylaws
- A Real Property Report (RPR) can help with streamlining the financing of a home.
- Property transactions are simplified when a Real Property Report is prepared before the sale of a home.
- Avoid delays in completing property transactions when a Real Property Report is arranged early in the sales process.
Who needs a Real Property Report?
Most commercial and residential real estate transactions in Alberta require a Real Property Report survey to be completed before the sale of a property.
How does a Real Property Report protect you?
Purchasing a property may be the largest financial investment you ever make. With a Real Property Report, owners are aware of any boundary problems. For example, they know whether their new home is too close to the property line, or if part of their garage is on their neighbour’s land, or vice versa.
“Good boundaries make good neighbours!”
Since legal complications or a financial holdback of funds can occur if a sold property fails to meet Bylaw requirements, a Real Property Report can therefore protect the buyer.
What is shown on a Real Property Report?
- The position of the dwelling and or outbuildings in relation to the property lines
- Significant visible improvements to the home within the property boundaries
- Encroachments relative to the boundaries of the property
- Easement, Restrictive Covenants and Utility right-of-ways that are located on the property
- And so much more
What is Municipal Compliance?
The Municipality reviews the RPR, and endorses with a compliance stamp or letter if the property meets the required bylaws. Or will issue a rejection letter if the property does not meet local Bylaws. Therefore, the property owner can then resolve any outstanding issues identified by the municipality before the sale of the property.
To avoid delays in completing the property transaction; have your Real Property Report arranged as early as possible, so that any municipal compliance issues relative to the dimensions of the building, improvements and right-of-ways can be resolved before the sale of the property.
We hope this answers many of your questions about Real Property Reports
Contact us here for a free quote or to order an RPR.