The easiest and cheapest way to get a Real Property Report in Alberta is to utilize the one you have or contact the original land surveyor who created the first report and request an update.
You may also hire a certified Alberta Land Surveyor.
Below is everything you need to know about Real Property Reports in Alberta.
Quick take
What you need to know:
What is a Real Property Report, and why do you need it?
“Real Property Report” refers to a legal document that surveyors create to define boundaries and visually represent property improvements. That means -it tells you where the property line begins and where it ends. And it also details structures and improvements made on the property. An improvement includes the house, garage, deck(s), hot tub, fences, walkways and sheds.
If you are purchasing property in Alberta via a mortgage, your lender will require a current Real Property Report and compliance certificate.
Why do you need a Real Property Report in Alberta?
You need an updated Real Property Report because:
Why do property sellers need Real Property Reports in Alberta?
A Real Property Report contains improvements made to the property and can identify any existing problems. This information is vital because the purchaser knows exactly what they are getting. The document also protects the seller from liability.
Remember, if the buyer is unaware of an existing hazard or costly repairs at the time of sale, they may have grounds to sue the seller. So, if you intend to buy or sell a home in Alberta, it is in your best interest to acquire a Real Property Report.
How to get a Real Property Report in Alberta
If no improvements have been made to the property, you may contact the land surveyor who wrote the first report and request an update. Find the contact information in the first Real Property Report or hire a surveyor. Your REALTOR® may also assist you in getting one, or you may work with a lawyer. If you are unable to acquire an updated real property report, then you must contact a registered Alberta land surveyor.
Do you need a lawyer when purchasing property in Alberta?
Alberta laws do not require you to have a lawyer when purchasing a property. However, given the cost of buying land or property and the number of legal documents you must acquire, you should consider working with a lawyer, especially if it is your first time buying land or a home.
What does a valid Real Property Report contain?
Identifying Features Removed
When you get a Real Property Report, it should contain all the following:
How much does a Real Property Report cost in Alberta?
The factors that determine the cost of a Real Property Report in Alberta are:
(1) The size of the property.
(2) The surveyor’s charges.
Consequently, the larger the property, the more it is likely to cost. Although, on average, getting a Real Property Report is anywhere from $400 to $600, it may cost you more if you need to expedite the process.
Other factors that may impact the cost of acquiring a Real Property Report in Alberta include:
Note: Getting an RPR can help you save money on closing. Check out this article to view other ways to cut down on closing costs.
How to apply for a Real Property Report in Alberta
Starting last year, the city of Calgary and surrounding areas no longer stamp paper copies of Real Property Reports.
A Real Property Report can only be updated by an Alberta land surveyor, and they must also sign and date it. A municipality is unable to provide reports because of copyright and privacy laws.
What is a certificate of compliance, and why do you need one?
As the name suggests, a compliance certificate is a document issued by the municipality which confirms that the locations of buildings or structures on the land comply with municipal code and by-laws. The document is unenforceable, and your lender requires it to approve your investment.
What to remember:
Is a Real Property Report required in Alberta?
Yes. As mentioned, your lender requires a Real Property Report to approve funding. But the city or municipality does not require one because land or property sale is a private transaction.
Buyers need Real Property Reports because it tells you all you need to know about the land, including encroachment, compliance, boundaries, and structures on the land. Having one can help you avoid disputes with the neighbours.
How long does it take to get a Real Property Report in Alberta?
It usually takes one to two weeks to get a Real Property Report in Alberta; however, you may expedite the process by paying a little more. We recommend consulting with a registered property surveyor.
What are the benefits of a Real Property Report?
If you are selling land or property in Alberta, the benefits of getting a Real Property Report include:
If you are buying property in Alberta, a Real Property Report is beneficial in that:
Is it a must to get a Real Property Report if one exists?
If you have not made any improvements to the land, or if you have a recent Real Property Report that accurately depicts the property, you may sign an affidavit or statutory declaration stating that the report is accurate and no improvements or changes have been made to the property.
In other words, if you have added a new structure or made improvements to the property since the last survey, you need a Real Property Report.
To update your Real Property Report. Contact the surveyor who created the existing report or hire a property surveyor.
Tips on how to choose a property surveyor in Alberta
To avoid potential errors in your report, you should look for:
How long is a Real Property Report valid?
A Real Property Report is valid until you make changes or improvements to the property. That means if you add a new swimming pool, driveway, or other features and structures, then you will need a Real Property Report.
How to prepare a Real Property Report in Alberta
Usually, preparing a Real Property Report is a five-step process that involves: