As per the mandate coming from the Real Estate Council of Alberta, as long as you have a real estate transaction, RPR is an inevitable necessity. The same rules and regulations apply in Calgary since the city is within the jurisdiction of the prairie province.
Calgary real property reports contain a wide range of legal and technical evidence that the property is litigiously righteous. However, just in case you forget their form and use, here is a comprehensive recap concerning RPRs:
What is an RPR?
An RPR is a document your land surveyor prepares that is crucial if you are to buy a specific piece of real estate for a business operation or personal gain. If you search for an image example, you can see how comprehensive the details are, including numbers that you don’t necessarily understand. That’s because the purpose of RPR is to be a higher-level illustration of particulars that may technically bring or spare you from a breach.
It includes:
• Property sketch
• The boundary of the property
• Building or structures
Think of RPR as a legal card to defend yourself once someone accuses you of common property issues like encroachment. Thus, it’s always important to comply with such documentation.
Why Is It Important to Perform Real Property Reports in Calgary?
Aside from making you legally abiding, here are some other reasons you should value an RPR.
Full Disclosure and Independent Assessment
If you let your surveyor conduct an RPR, it will identify all the potential problems the land may possess. However, the disclosure should not involve the seller because it is supposed to be independent of any biases from the dealer.
Once there is a diagnosed problem, you can now decide to push through or back out of the land purchase. Should you move forward considering the potential constraints, RPR will also help you finalize what needs to be done to dissolve such barriers.
Government Legal Auxiliaries
RPR contains a lot of government papers that you can use legally aside from RPR documents. For example, if you are to apply for additional issuance for property-related legal requirements, it will be a lot easier. RPR is like the basic foundation of your property’s legality. It might be tedious to see the completion phase, but it offers convenience once accomplished.
Some of its package documents are:
• Legal description
• Municipal address
• Land Title (Certification)
• Evidence of municipal compliance
• Easement illustrations and more.
Streamlined Financing
For wealthy people, buying a property is only a one-time payment. However, unlike them, you always resort to multiple deals because land and building are non-current investments, and you’re not capable of making big deals.
As such, RPR helps streamline your financing, which allows you to avoid errors and delays. More so, if you have a lot on your plate, in which case, RPR helps you to dodge some stressful redundancy of tasks to comply with payment.
Reduction of Legal Expenses
Avoiding future conflict doesn’t only offer an opportunity for you to relax but also to cut potential costs. Once some relevant group or your neighbor, for example, files a case against you, that means you will now go to a court, pay for a lawyer, and more.
Peace of Mind
Knowing your property complies with legal descriptions and the boundaries of municipal bylaws grants you serenity.
Overall, legal documents help you be a better citizen by complying with state ordinances. The world is now more civilized than ever, and living in a city like Calgary even demands more competence, including abiding by laws.
