Needing RPRs in Alberta
Who needs real property reports in Alberta? It is a question that we get all the time. There is a cost to produce them and to get municipal compliance. Sellers require them for almost every residential real estate transaction that takes place in Alberta. Yet many people do not understand who needs them and why. To understand who needs real property reports in Alberta, please continue below. you may also watch our video on real property reports.
What is a Real Property Report?
A RPR is another way of saying real property report. A real property report is a survey of a property. The RPR will show the structures on the property. These include homes, garages, large sheds, decks, pools, fences, etc. An RPR will also show relevant land facts such as utility right-aways, easements, and overland water drainage restrictions. Survey companies under the Alberta Land Surveyors’ Association draft the RPRs.
Who in Alberta Needs Real Property Reports?
The following is a list of the people and groups which needs real property reports:
RPRs for Home Buyers
Home buyers want to know exactly what they are buying. Since an RPR will show the property line (the legal boundary of the property), a home buyer can see what they actually get. Sometimes, trees, shrubs and fences can make a property look bigger or smaller than it actually is. This is because these things may not sit right on the property line. The RPR will also let a buyer know if all the structures on the property sit on the property itself or if the encroach onto the neighboring property. The real property report also lets a buyer know of any building restrictions if they have future building plans for the property.
Real Property Reports for Municipalities (Cities, MDs, etc)
Municipalities want to make sure that structures or developments on property comply with local regulations. The city needs real property reports to due so. Some of the things a municipality will be concerned with on a real property report include:
- Structures built on city land
- Structures built on utility rights of ways
- Anything built that will disrupt proper water drainage (where applicable)
- Proximity of structures to property lines
- Compliance will zoning and land use regulations
Home Owners and RPRs
If a home owner wants to build a new structure or build an addition to an existing structure, they must ensure that it is done properly in terms of location. An RPR is required to know where they can make these types of additions. If they are selling their property, they must know of any issues before they sell. Most RPR issues can be dealt with but it can take time to do so. It is very important to start that process early on as it can delay possession or even cause a sale to fall apart.
RPRs for Financing, Mortgage Companies, Banks
A lender needs real property reports. If a company or bank is lending money secured against the title to a property, then they must ensure that their investment is safe. A RPR allows a lender to see that the improvements that make up part of the security are OK where they are. For example, if a lender based the value of their security that includes a detached garage but the garage is built on City land and will need to be removed, the value of the security is compromised.
Real Estate Professionals (Realtors, lawyers, appraisers, etc)
Real estate professionals are in the business of protecting and best representing their clients. A real estate agent needs real property reports to be able to review a property properly with and for their client. Likewise, a lawyer needs real property reports to make sure their client buying a home is protected.
Legal Help In Alberta with Real Property Reports
If you are having issues with an RPR, call us today. We offer comprehensive understanding and reasonable cost options for dealing with RPR issues so that you have a proper RPR as required above. When a person needs real property reports free of issues, call. You can reach us locally in Calgary at 403-225-8810 (toll-free at 1-877-225-8817), or email us here directly.