Getting a Real Property Report in Calgary can help you resolve any problems before a property sale is finalized. But what is a Real Property Report? Do I need it? How do you prepare it?..and many other such questions are often asked by property owners.
In this article, we’ll address all the frequently asked questions about a Real Property Report, starting with,
What is a Real Property Report?
A Real Property Report is a legal document illustrating the location and boundaries of a property, along with any issues that occur due to non-compliance with the necessary bylaws.
These issues are cited by a certified surveyor, as opinions or concerns in a written statement included in the report. This report can then be used for real estate transactions, or to resolve any border-related disputes with a neighbor or the municipality.
Do I need a Real Property Report?
A Real Property Report is required by an owner to identify the boundaries of a property, any encroachments with the adjacent property and the compliance of a property with the municipal requirements.
If you’re purchasing a property, an RPR will give you a clear picture of the location and boundary of a property, highlighting any problems it may have. An RPR is also required for you to get a mortgage on a property.
And lastly, retailers can use this document to provide a visual representation to buyers willing to buy a property.
How long is an RPR valid?
A Real Property Report shows an accurate picture of a property, as per the date of the survey. And this report is valid as long as there are no changes made to the property since that date. If there are any changes, such as an addition of a fence, driveway or garage, these have to be included in the report. For this, you will have to get the report updated from a certified Surveyor in Calgary.
What is the cost of a Real Property Report?
The cost of a Real Property Report is entirely dependent on the complexity associated with a project. To get an idea of this, it’s best to contact a land surveyor before starting a project. Depending on what is included in the project, the costs can be arrived at accordingly.
Normally, the costs can be impacted by factors such as the availability of survey evidence, historical title searches, experience and resources of a surveyor, travel costs, application and record searching fees, etc.
While these don’t make up for the entirety of the factors, they pretty much form the basis for determining the costs.
What are the Benefits of a Real Property Report?
A real property report can give an accurate idea about a property, to sellers and buyers, before they choose to take any action. This can help identify any problems with the property before any sale is finalized.
Financing a property requires a Real Property Report. With one already present, the process can be made quicker.
Boundary information is essential for developmental and building permits. An RPR gives the necessary information about the same, also highlighting any encroachments related to the boundaries of a property.
Who are Calgary Land Surveyors?
Land Surveyors are professionals who undertake the task of conducting a survey, in this case, preparing a Real Property Report. They are certified by the Alberta Land Surveyors Association and require the necessary qualifications to offer a service.
Core Geomatics offers all types of survey needs, from RPRs, land development surveys, construction surveys, as well as remote sensing in 9 locations, including Calgary. Feel free to contact them for all your surveying needs.