Adam is the CTO of Sweetly - He has been a real estate consultant since 2019 with a focus on creating and utilizing data-driven real estate information.
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:
“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.
You need an updated Real Property Report because:
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.
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.
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.
When you get a Real Property Report, it should contain all the following:
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.
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.
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:
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.
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.
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:
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.
To avoid potential errors in your report, you should look for:
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.
Usually, preparing a Real Property Report is a five-step process that involves:
With the Sweet Sale, you get a Fair Price Cash Offer. It’s a fair offer that lets you sell without showings and choose your own moving day.
Start your sale with a Free, Fair Price Cash Offer, which remains open to you for 60 days. Activate our offer any time – even without listing/showing your home, or at some later date if your home isn’t selling. Compare our hassle-free, all-Cash offer to a traditional MLS® listing. Make an informed decision. Choose what’s best for you. Offers remain open to our customers for 60 days. Our offer is withdrawn if you list with an outside REALTOR®.
A traditional listing allows you to test the market with your price. A listing with Sweetly comes with it’s own set of perks.
Start with an fair price cash offer to know the current value of your home. Then, decide ‘how’ you want to sell, BUT before you do, you can shop at your pace to find the right house. Beat out any competing buyer because you won’t need a ‘condition of sale’ so your offers are stronger without spending extra money. Once you have a firm purchase you can sell your house to Sweetly on a day that works best for you.
