A Real Property Report, also known as an RPR, is a legal document that provides an accurate description of visible structures and improvements on a property and its boundaries. The report typically includes a detailed survey of the property, including the dimensions, and any structures on the property such as buildings, fences, and decks. It may also include information about any easements or encroachments on the property.
The RPR is often used during real estate transactions to ensure that the property is in compliance with local bylaws and zoning regulations and to identify any potential issues that could affect the property’s value, such as extending into the neighborhood area.
Property owners and prospective buyers use an RPR to gain a clear understanding of the property’s boundaries, structures, and any relevant legal issues.
As for what an RPR looks like, it is basically a highly detailed drawing of a property, that highlights buildings, and structures on the property and its neighborhood. It also includes a legal description to identify the property’s exact location.
What Does a Real Property Report Include?
Here’s What A Real Property Report Must Include:
● A detailed survey of the property shows the dimensions and location of all physical structures, such as buildings, garages, decks, and fences, inside and around the property boundaries.
● Date of land title search and filing of the RPR, as well as names and land title numbers of the owners.
● The placement of encroachments on the property, such as buildings or structures that go beyond or that are too close to the property boundary.
● Any easements or right-of-ways that may affect the property, such as utility lines for neighboring properties.
● The location of any improvements on the property, including drainage systems, retaining walls, or landscaping features.
● A certification by a licensed surveyor that the survey and report are accurate and comply with the municipal codes.
● Any other relevant information that may affect the property, such as zoning bylaws or building code violations.
A Real Property Report missing any of the above must be questioned, and property buyers should request an updated RPR from the owners.
Types Of Property Reports
A current Real Property Report (RPR) is a document that shows the current state of a property, including physical boundaries and improvements relevant to the date it was prepared. It is typically required during real estate transactions to ensure an accurate representation of a property, and to conclude that there are no boundary or improvement issues that could affect its value.
An updated Real Property Report, on the other hand, is a new report that reflects changes or additions to the boundaries or improvements of the property that have occurred since the original report was prepared. For instance, if the property owner has added a garage to the property, an updated RPR will reflect those changes.
Either way, getting an RPR from a professional is important, and there’s no one better than Core Geomatics in Alberta. Contact them now to get the best quotes.
Things To Keep In Mind While Reading A Real Property Report
A property report may show items that are non-compliant & need to be resolved before the sale of a property. Special attention should be paid to these items, and they usually consist of encroachments and relaxations.
Encroachment is anything that overlaps a neighboring property, such as a fence. In this case, a property owner is left with two options. Either get into an Encroachment agreement with the neighboring property owner, where the encroachment will be reflected in both property titles. Or remove the Encroachment if there is no agreement.
Relaxation, on the other hand, can be claimed from the municipality if the property is too close to the municipal property.
