Edmonton Real Property Report & Compliance Certificate: Why You Need It.
Have you recently considered selling your Edmonton home or taking out an additional mortgage? If so, you already know that there is quite a lot of paperwork required and without a law degree or an Edmonton Real Estate Lawyer, you may be feeling overwhelmed.
One of the first things your bank or credit union will require before a sale can be finalized or the mortgage funds released is a Real Property Report (RPR) and a Compliance Certificate from the city of Edmonton. Knowing what these are and how to obtain them will make the process of selling or re-mortgaging a home less worrisome.
What Is A Real Property Report?
A RPR is exactly as it sounds; it is a legal document prepared by a land surveyor. In Edmonton that Report is conducted by the Alberta Land Surveyor to clearly define the property boundaries. A survey of the land will document exactly where your property lines begin and end, as well what structures exist on that property.
A Real Property Report also provides other helpful information that you will need for your Compliance Certificate, particularly which structures have undergone any improvements. These improvements extend to all structures on the RPR including fences, garages, storage sheds and other dwellings.
Whether you own a home or apartment building, an RPR is necessary before any real estate transactions take place.
Why You Need A RPR?
Any Edmonton real estate lawyer will advise you to have a Real Property Report as early in the selling process as possible because it will protect you by laying out property boundaries and defines all improvements. If any problems exist for which you—the seller—are responsible for fixing, you can do so without affecting the sale of the property.
Having an Real Property Report ahead of time can expedite the sale, as the buyer and the lending institution will want to see it.
What Is A Compliance Certificate?
The Compliance Certificate confirms that all structures and buildings on the Real Property Report are up to the regulatory standards defined in the Edmonton Zoning Bylaw. This certificate also affirms that any required building permits have been secured.
The Compliance Certificate verifies the information gathered and documented by the Alberta Land Surveyor in the RPR. To get this Certificate you will have to submit the RPR to a Development Officer in the Current Planning Branch. Once the Development Officer has reviewed the Report and found your documents to be in compliance with zoning bylaw, your RPR will be stamped.
Why Do I Need A Compliance Certificate?
Since the city of Edmonton doesn’t require a Compliance Certificate you don’t technically need one, however lending institutions and often real estate agents require one prior to listing a property for sale. But more than that however, this certificate lets the buyer know that they will not be held legally responsible for any construction completed without the proper permits. It also protects the buyer from any structures that overlap onto public property.
But as any Edmonton real estate lawyer will tell you, it also protects the seller if the buyer claims that illegal construction was done before they owned the property. These documents, stamped by the City, will ensure honesty during any real estate transaction.
How To Get A RPR & Compliance Report?
In order to get a copy of the Real Property Report you will have to contact the Alberta Land Surveyor who created the original report and request an updated report (PLEASE NOTE: ONLY the original Land Surveyor can update the report). This will be less costly than having a new RPR completed, particularly if very few changes have taken place on the property since it was purchased.
Once your RPR is completed you will have to complete an application to request a Compliance Certificate. The application should include copies of the RPR as well as the Land Title Certificate. Pay the applicable fees and submit the documents by fax, mail or in person.
It can take quite some time for the RPR to be completed, depending on a wide variety of factors including size of the property. The Compliance Report will take about 10 days to be stamped.
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