Real Property Report (RPR) documents are crafted by professional land surveyors. An RPR can be described as a visual blueprint of your property’s layout, structures, and buildings at a specific juncture. The Real Property Report delineates the geographic connection of your property with the Municipality’s property and surrounding properties. It paints a comprehensive picture of how your property integrates into the local vicinity, highlighting additions like sheds, decks, pools, and more.
Determining whether your property adheres to municipal bylaws is where an RPR becomes invaluable. An earlier version, crafted when you first purchased or built your home, might still be valid. However, if there have been substantial modifications to the residential property landscape, an updated RPR could be essential.
Addressing any discrepancies can be negotiated between the buyer and seller before the transaction concludes. For a deeper dive into this process, consider reaching out to a real estate attorney or exploring the option of purchasing property title insurance.
Per the standard residential real estate contract in Alberta, a seller must furnish the buyer with a Real Property Report. This document should showcase all “current improvements.” If your RPR hasn’t changed since your initial purchase and no new structures have been added, this document remains valid for the sale of your home.
Considering an alternative to the traditional RPR? Title Insurance stands out as a viable option.
But here’s the silver lining – ComFree is your trusted ally in this journey, offering a suite of tools and unwavering support as you navigate the intricacies of buying or selling your home. Partnering with us is the expert team at Edmonton Law Office, who bring to the table their vast experience in RPRs, compliance, and title insurance, ensuring a seamless transaction process for all stakeholders.
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* Only when the buyer comes direct, otherwise the seller may choose to negotiate a commission with the buyer’s agent.
