Real property reports in Calgary are a necessity in more than one way.
Its importance and overall credibility are much acknowledged in the real estate industry especially.
In simplest terms, an RPR or a real property report states the location of structures and suggests improvements to the land, relative to the boundary. It takes the final shape of a plan or illustration of the final features of the property.
Adding on, it includes a written statement stating the surveyor’s opinion about the property and its technical features.
So, let us understand what a Real Property Report consists of, and how it can help all the involved stakeholders. Moreover, how important of a role do land surveyors and technical professionals have to play, in order to produce an extensive and accurate report.
What is a Real Property Report?
A real property report or an RPR is technically a survey report of your property that involves a detailed land survey highlighting its features, specifications, and other important details.
The Real Property Report helps identify many aspects, including encroachment from adjacent lands, easements, restrictive covenants, and right-of-ways. Moreover, components like human-made, above the ground features that are permanent, and how close do they lie to the property lines as well.
Here are some of the details that a Real Property Report consists of:
- The legal description of the land/property
- Certificate of title number and registered owners
- The date on which the title search was completed
- Location of right-of-ways and/or easements registered
- Location and size of any conspicuous encroachments around the property, if any.
- Indications of any easements that affect the property
How Does A Real Property Report Help?
A Real Property Report can help all the stakeholders that are involved in any property or land.
- The RPR safeguards sellers from any legal liabilities down the line, pertaining to boundaries and improvements that have taken place. This protects the buyers by informing them of what they’re getting into.
- A Real Property Report also assists buyers by providing them the accurate knowledge of the property boundaries, issues that may be there pertaining to the property with the adjacent neighbors
- It can also help one plan their future ambitions regarding the property by giving them the eligibility for more developments or improvements.
- Many banks in Calgary require an RPR and a Compliance Certificate from the municipality before a sale is finalized or mortgage funds are released.
A Real Property Report becomes mandatory for a variety of purposes. Obtaining a real property report isn’t merely legal compliance that one shall follow, but is a boon for their property investments as well.
Not only does it help the municipal department of your city plan better services for your wellbeing, but it also safeguards your interests equally effectively.
In order to get Real Property Reports in Calgary, one needs to get their land surveyed by professional and certified land surveyors around them. For best results in land surveying, get in touch with Core Geomatics today.
The company, with its 10 years plus worth of experience and familiarity with the areas of Calgary and the rest of Western Canada, can certainly rely on them. The experienced professionals within the Core team, ensure that you get accurate results for your survey, and it shows in the final report too.