If you live in Alberta the answer is yes if you own a detached home, an attached home or a Bare land Condominium you will need a Real Property Report with compliance. If you own a conventional Condo then you do not need a Real Property Report.
What is a Real Property Report?
A Real Property Report is a legal document that clearly illustrates the locations of significant visible improvements relative to the property boundaries. It is a land survey that shows where the buildings are located and it shows the property lines. A Real Property report will show if there are any encroachments onto City of Calgary property or your neighbour’s property. The survey must be completed by an Alberta Land Surveyor. An Example of a Real Property Report
Real Property Report Sample
Compliance
Once you have your Real Property Report completed you then have to take it to the City of Calgary and have them review it. They look for encroachments, setbacks being met and many other problems. If it meets all of the City’s criteria they will give you (for a fee) a stamp of compliance.
I do not know of one lawyer in Calgary that will close a Real Estate sale without a current Real Property Report. When you are signing the papers at the lawyers you will be required to sign a document stating that the Real Property Report reflects the current state of the property.
Sometimes the mortgage lender will ask for a land survey, especially if your property is older and hasn’t changed hands in many years. You might also be asked for one by the buyer if there is any confusion about the size and boundaries of your property – or if significant changes have been made to it in recent years.
This is nothing to be concerned about. Property Surveyors are highly trained and licensed. In Canada, Professional Surveyors Canada (PSC) represents the profession nationally, and most provinces have their own professional associations.
Before getting a new land survey, make sure you don’t already have one. Hopefully, you’ve stored the paperwork that relates to the purchase of your home. Look through it. A valid land survey might be right there.
It is smart to get your Real Property Report with compliance before your home hits the market. This allows time to correct and issues that may arise getting compliance from the City.
If you have questions about land surveys, call today.
Tags: Calgary home selling, Preparing to sell my home, Selling a home in Calgary, What is a real property report