You may have heard the term RPR or Real Property Report. What the heck is an RPR and why do you need it?
An RPR is a survey conducted by a survey company of the land and buildings where you live. This drawing shows where your home sits on the property as well as the garage, shed and any other outbuildings as well as fences, decks and patios if applicable. It also show where the property line sits and shows any encroachments from your property onto neighboring property including city land and vice-versa. It will also show any easements or relaxations for any encroachments. This RPR further requires a stamp from the city showing that it complies.
In Alberta a recent RPR provided by the seller is a contractual obligation in the purchase contract. The buyer needs to know of any issues with the property and an RPR certainly provides much of that information. If the RPR is not up to date or is not provided, then a purchaser may have some legal recourse against said seller. Now, I’m not a lawyer. You would want to speak further to counsel over such a situation. Better to have it and avoid the situation in the first place. After all it is contractual!
So if you’re selling make sure you have an updated RPR with a compliance stamp from the city! Thanks for reading!
By Patrick Murray Join me on Google+