A real property report is an officially acknowledged document that is meticulously prepared by survey companies to precisely illustrate the positioning of a building concerning property boundaries and adherence to municipal bylaws. This crucial document is significant for various real estate transactions and development projects. In the following article, we will delve into the significance of real property report in Calgary and the key indicators of when they are essential. Let’s get started!
When To Get an RPR?
If you intend to sell property in Calgary, it is crucial to have a current Real Property Report (RPR) with a compliance stamp to demonstrate your property's adherence to the municipal land use bylaw. The seller representation agreement commonly used in Alberta requires sellers to provide the buyer with a current RPR, unless otherwise agreed upon. Additionally, buyers' lenders and lawyers typically demand a current RPR to finalize the transaction.
Obtaining an RPR is not limited to sellers only; homeowners can also benefit from it by gaining valuable information such as:
● Identifying and resolving property-related issues before finalizing a sale.
● Discovering outstanding easements or encroachments, saving time and money in dealing with such matters.
● Understanding the physical dimensions of the property, providing buyers with peace of mind regarding compliance with municipal regulations and legal standards.
● Determining the precise location, upgrades, and physical dimensions of structures on the property.
● Assessing the connection of the property to public utilities like gas, water, sewer, or electricity.
Common FAQs
Would you need to get your RPR updated?
Any changes or modifications made to the property after the report's completion will not be reflected in it. For instance, additions like a deck or garage, alterations to the driveway and other features will render the existing property report outdated. Therefore, the accuracy of a real property report is limited to the time of the last survey conducted. If you own the property and no changes have been made, your report remains current.
To address changes, updating an existing property report is usually more cost-effective than requesting an entirely new report. Consult the surveyor of record to determine whether the report can be updated or if a new survey is necessary.
Get in touch with Core Geomatics if you are looking to get your Real Property Report Calgary. As a reputable and licensed survey company with over a decade of experience, they offer the expertise you require. You can count on their skilled team of land surveyors to deliver precise and dependable results, providing you with the confidence you need for your property transactions.
What if your RPR is current?
If you already have an RPR, you can certify it is true and that the property hasn't changed since it was created by signing a Statutory Declaration or Affidavit.
Do Condominiums require RPR?
In the case of conventional condominiums, a real property report with compliance is not necessary as they involve common ownership of a single parcel of land. However, it is important to note that bare land condominiums with improvements do require an RPR with compliance. This is because the land itself is considered a condominium unit, making it crucial for buyers to be aware of the status of both the land and the improvements within their condominium lot.
What is a Stamp of Compliance and how do I go about it?
Municipalities provide a compliance stamp or letter for a fee, indicating if a property meets the municipal by-laws mentioned in the Real Property Report. If the property is compliant, it receives a compliance stamp. Non-conforming elements mean certain features don't meet current standards but are acceptable for maintenance. Non-compliance indicates issues that must be resolved and updated by the surveyor to obtain the compliance certificate.
For More Information about Geomatic Services and Alberta Geomatics Surveying Services Please Visit: CORE Geomatics.
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