A Real Property Report (RPR) is a legal document that clearly illustrates the location of significant visible improvements relative to property boundaries.
RPRs will show visible improvements including such items as decks, fences and hot tubs and will identify and describe right-of-way’s, easements and encroachments on or off the property. A Real Property Report can be relied upon by the buyer, lender and sellers.
It will provide parties with information on the location of improvements relative to property lines or encroachments onto neighboring properties or vice versa. An RPR is necessary in order to obtain a compliance certificate from the municipality. The municipality would review the RPR and advise if the improvements shown on the RPR meet the requirements of the local bylaws regarding the issuance of permits for the structures shown on the RPR and the location of the improvements vis-à-vis the property lines.
A Real Property Report is valid until new improvements are made on the property, such as fences, decks, driveways, garages and other structures. A RPR can be used even if it is 5 or 10 years old, so long as it shows all existing structures and improvements on the property.
The benefits of an RPR:
- If prepared prior to the signing of a real estate purchased contract, problems can be identified and resolved prior to listing a property, or, such problems can be negotiated with the buyer to accept the same if the value of the improvements does not justify the expense of rectifying the compliance issues
- Purchasers will be able to identify the physical dimensions of the property
- Purchasers and owners will have accurate information as to the location and dimension of buildings and other improvements, right-of-ways and encroachments.
- The RPR can be used when applying for building and development permits with the municipality
We recommend seeking the advice of a lawyer prior to the signing of a real estate contract to obtain preliminary guidance to allow for a smoother transaction.
If you are contemplating listing your home or are seeking more information regarding your RPR and compliance certificate, the purchase or sale of a home, or for the re-financing of your existing home, we welcome you to contact our office at 780-469-0494 or email us directly at email@example.com.