REAL PROPERTY REPORT 

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REAL PROPERTY REPORT - WHAT IS IT?

A Real Property Report or RPR is an overhead drawing of your property which shows the property lines and the location of all current improvements on the property, such as the house, garage, shed, deck, fences, etc. This document is important because it shows that these improvements are included with the property and are within the property lines. It also enables the municipality to review the improvements to ensure that they comply with the municipal by-laws, and that the proper permits were pulled when everything was built. This is important because, for example, should the deck not meet the building code, it may need to be removed. If there is no RPR or the RPR is not current and complete, then the purchase or sale of the property may be delayed or even terminated.

WHO PROVIDES AN REAL PROPERTY REPORT?

Most Residential Purchase Contracts dictate that the seller must provide the RPR. If you are selling your property, we highly recommend that you have an RPR prepared before you list your property for sale. This will give you plenty of time to resolve any matters that may delay the sale of your property.

DO REAL PROPERTY REPORTS EXPIRE?

RPRs do not expire. So long as all the current improvements are showing on the RPR and the Municipal Compliance is current – the RPR and Municipal Compliance should be satisfactory. However, some banks do not accept RPRs that are more than 10 years old. If you are buying, you should check with your bank to see if a new RPR with Municipal Compliance will be needed.

MUNICIPAL COMPLIANCE - WHAT IS IT?

A Real Property Reports (RPR) must be accompanied by a Letter of Municipal Compliance or a Stamp of Municipal Compliance from the town or city where the property is located. This confirms the property complies with the municipal by-laws. If there is no Municipal Compliance with the RPR, then the RPR is not complete, and the purchase or sale of the property may be delayed or even terminated.