Real Property Reports Explained
A Real Property Report and a Certificate of Compliance are essential components for your smooth real estate transaction.
In a nutshell, you need a Real Property Report to prove that everything on your parcel is built in the right place. Sometimes, improvements extend onto a property that someone else owns (encroachments) or they are built in such a way that breaks municipal rules (bylaw infractions). The Real Property Report is a legal document prepared by an Alberta Land Surveyor accurately reflecting the position of all permanent improvements (houses, decks, sheds, A/C units, etc.) relative to the property boundaries.
Here is a portion of a plan, prepared by Third Rock Geomatics:
Click the image for a printable PDF version of this post
A Certificate of Compliance is provided by the municipality. A technician will review the report and compare it to all the bylaws for that location. Most of the time, everything is in order and they issue a Certificate of Compliance quickly. If there are any concerns, their team will take a closer look to determine if any further actions are required before providing the Certificate.
Each time a real estate transaction occurs, a Real Property Report and Certificate of Compliance should be provided to prove the property is ready to change hands.
Reviewing the Vendor’s Real Property Report
Tom Taylor of Taylor Law, a Calgary lawyer who specializes in Real Estate, has more to say on the importance of reading Real Property Reports before making a purchasing decision.
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At THIRD ROCK GEOMATICS we are experts in Real Property Reports. We offer turnaround time in 5 business days or less, we have great looking plans designed with your clients in mind, and offer fixed price services. Do we sound like a great addition to your team?
Call us today at 587-333-4413, click here to order, or send us an email!