Purchasing a property is one of the most prominent investments an individual makes in their lifetime. So, it is only natural that you want to know the property or land you are about to purchase inside out. For example, what are the exact dimensions of the property, and what has been its history? Knowing these details before making a purchase can help eliminate any guessing games. This is where real property reports come in. So, if you are wondering how a real property report works in Calgary, Alberta, read on to find out the details.
What is A Real Property Report?
A real property report (RPR) is a legal document that utilizes images and measurements of a home to provide a detailed view of the property. This in-depth report indicates the building’s position concerning the property lines and municipal bylaws. Surveyors represent the RPR as a plan of the property’s physical features. A written statement that shows the surveyor’s opinions and concerns also entails a real property report in Calgary, Alberta.
During the purchase, sale, or improvement of a house, hiring a professional company to build a real property report makes all the difference.
Who Needs It?
A real property report in Calgary, Alberta, is needed for most commercial and residential transactions in real estate. RPR is referred to before selling each property to ensure there are no boundary problems. For example, a real property report shows if the building is too close to a property line, if a part of the garage is on the neighbor’s land, and so on.
Thus, to avoid legal complications and financial holdback of funds, a sold property has to meet bylaw requirements. A real property report helps identify whether the requirements are met.
Benefits of Getting A Real Property Report for Calgary, Alberta
There are many benefits of getting a real property report for your property. In fact, at times, an RPR is also a legal mandate.
● Real property reports help surveyors identify problems you can resolve before a sale is finalized.
● Real property reports in Calgary, Alberta, are also used to identify accurate locations and dimensions of a building. Surveyors can also find out about any improvements, right-of-ways, and boundary encroachments in which the property is involved.
● RPRs show you the exact physical dimensions of a property, which homeowners use to ensure that the building is within the legal descriptions and boundaries of the municipal bylaws of Alberta.
● Real property reports are also used for streamlining the financing of a home. In addition, they work as legal documents accepted by banks.
● These reports are also prepared just before the sale of a house to aid ease in property transactions.
● By arranging a real property report early in the purchasing/selling process, one can avoid unforeseen delays in transactions.
Real Property Report in Calgary, Alberta
Handling properties is no small matter, so it is important that your real property report in Calgary, Alberta is handled by experts. CORE Geomatics is a trusted RPR and Building Location Certificate company in the region, also operating across 8 other cities in Western Canada. They provide provincially registered land surveyors who supervise and certify the legal document for your property. With their services, you will be able to make confident decisions about the property before you buy, sell, or make improvements.
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