Real Property Reports

 

Real estate transactions almost always require a current Real Property Report (RPR).

An RPR is a legal document an Alberta Land Surveyor prepares. It’s basically a high level drawing of the property, the boundaries, and the buildings and structures on it, so buyers know exactly what they’re buying.

An RPR contains:

Sellers
The standard seller representation agreement used in Alberta requires sellers to provide a current RPR to the buyer, unless otherwise agreed to by the buyer. In most transactions, a buyer’s lender and lawyer require a current RPR to complete the transaction.

A current RPR allows everyone involved to know if there are any issues with encroachment, easements or non-compliance with municipal bylaws.

A current, compliant RPR allows sellers to:

Existing RPRs
If you have an existing RPR, you can sign a Statutory Declaration or Affidavit stating the existing RPR is accurate and the property hasn’t changed since the RPR was prepared.

If there have been changes, you can contact the surveyor to see if they can update the existing RPR. If there have been changes, only an updated RPR with a compliance stamp can confirm the property complies with municipal regulations.

Your real estate professional can also help you find a surveyor if the one on the existing RPR is not available.

Compliance
Surveyors are responsible for completing the RPR, but they do not determine if the property is compliant. You have to go to your municipal authority, in person, to obtain a compliance stamp.

Before the municipality stamps your RPR, it will look for non-compliant issues, including:

If you cannot resolve non-compliant issues before the sale closes, title insurance may be an option to enable the sale to close on time. Click here for more information on Title Insurance and how it differs from RPRs.

Buyers
Most standard residential purchase contracts require the seller to give the buyer a current RPR with a municipal stamp of compliance. Your lender will typically also need an RPR for your financing.

Benefits to buyers include:

Typically, sellers are responsible for resolving RPR issues before the sale closes.

An RPR should be available to you before you write a purchase contract. If it isn’t, your real estate professional can advise you of your options. You, or your lawyer, must have a reasonable opportunity to review the RPR before the property title transfers and the purchase funds are advanced to the seller.

 

home