REAL PROPERTY REPORTS AND COMPLIANCE CERTIFICATES

(October 16, 2016 , posted in Real Estate Reports)

Have you recently considered selling your Rocky Mountain House home or taking out an additional mortgage? If so, you already know that there is quite a lot of paperwork required and you may be feeling a little overwhelmed.

One of the first things your bank will require before the sale of a home can be finalized or the mortgage funds released, is a Real Property Report (RPR) and a Compliance Certificate from the town of Rocky. Knowing what these are and how to obtain them will make the process of selling your home less worrisome.

Under the standard Alberta Residential Real Estate Purchase Contract, the seller is obligated to provide a current RPR complete with evidence of compliance, at their expense, on all property except condominiums that are not bare land condos. 

It is necessary to order a new report when any structures including boundary fences are not shown on the RPR or if anything has been added or altered. If something has been removed, often an existing report can be utilized.

It is possible to avoid ordering a new RPR when ground cover items only have been added as they do not require a building permit. This includes concrete patios or decks that are less than 0.60 meters (24”) off the ground.

What is a Real Property Report?

A real property report is a legal drawing of your property's boundaries and includes a diagram of the improvements to your property, as well as their dimensions and location in relation to those boundaries.

Compliance certificates are issued by your municipality upon review of your real property report. The compliance certificate indicates whether the improvements meet their bylaws, setbacks, etc.

Real Property Reports are prepared in Alberta by registered Alberta Land Surveyors.

The Alberta Land Survey Association has prepared a brochure to help you understand Real Property Reports. Click here to view the brochure.