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Understanding Real Property Reports

Sun, 22 Nov by Bryon Howard

Understanding Real Property Reports

Before you list a property for sale in Alberta, it is important to understand that you are going to need an RPR. What exactly is an RPR? An RPR or Real Property Report is a plan or survey of the property that shows the location of all improvements on the property as they are situated in relation to the property’s boundary lines. The Alberta Land Surveyors Association states that the RPR should include a “written statement detailing the surveyor’s opinions and concerns” and “can be relied upon by the buyer, the seller, the lender and the municipality as an accurate representation of the improvements on your property.”

An RPR is required upon the sale of real property to ensure that the land and improvements comply with all municipal by-laws. In Calgary, upon receipt of an updated RPR, the city will review its records and, if everything is in order, issue a Certificate of Compliance stating that all improvements, including the house, sheds, decks and fences, are in compliance with all municipal regulations, including local setback requirements.

The Alberta Real Estate Association’s standard form of purchase contract states that a RPR is the obligation of the seller and should reflect the “current state of improvements on the property.” Municipalities and attorneys throughout Alberta tend to differ in their interpretation of this obligation. Everyone, however, seems to agree that the failure to provide an up-to-date RPR in a timely manner is a leading cause of closing delays.

To avoid this scenario, it is good practice to order an updated RPR as soon as the property is listed for sale. If there have been no changes to the property since the date of the original RPR, then the old one may suffice. If updates and modifications to the property need to be reflected, it makes sense to save time and money by contacting the land surveyor who prepared the original RPR to handle the update.   The important thing is to make sure all sides are in agreement and advance the process as soon as possible to avoid costly, stress-inducing delays.

RPRs have been in use in Alberta since 1987. Any homeowner who purchased property after that date should have one in their files. If you are having trouble locating an old RPR, you can try to obtain a copy through the current lender on the property or through the lawyer’s offices that represented the buyer and seller in the original transaction.

An RPR is a visual snapshot in time of a particular property and it provides everyone involved in the conveyance with valuable knowledge regarding encroachments, setback violations, chain of title issues, mislocated fencing and a myriad of other possible concerns. If you are a seller, make sure your RPR is up-to-date and reflects the current state of affairs on your property. If you are a buyer, rely upon your Realtor and lawyer to interpret the RPR and advise you of potential issues that might impact your closing and use and enjoyment of the property.

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.

How to Choose the Right Neighbourhood

Sun, 08 Nov by Bryon Howard

How to Choose the Right Neighbourhood

Recently, I did an interview for a publication on how I as a Realtor assist first time home buyers in choosing a neighbourhood for their home purchase. The answer to that is not as straightforward or cut and dry as you would imagine. Simply put, if you’re buying a new home, the neighbourhood you choose can be just as important as the choice of home. What makes a great neighbourhood for one couple or family does not necessarily make it great for another. There are so many types of neighbourhoods in Calgary where you can purchase a home, but the key to finding the right home for you is to consider your lifestyle and needs.

I always advise my clients to start with a list that clearly defines what is important for them. High on that list are some of the more common requests such as proximity to work and family and friends, as well as being close to good shops and restaurants. Others may consider access to trails and outdoor life a higher priority, or being in close proximity to their place of worship. As a first time home buyer, the ultimate goal is to choose a community that makes them feel good about being a part of that “tribe” and truly immersing themselves in the community.

Also remember to consider the pros and cons of the neighborhood and its surroundings. What other factors may be significant? Look at things such as a range in property value, type of property, schools and proximity to employment, comforts and other avenues of life. Purchase in a place that allows you to experience the advantage of ownership financial appreciation and building equity. Others may look for revenue potential in an area with a separate suite to rent or renting out a room to gain more value.

So the next question is, how do you navigate budget and neighbourhood? For some, this may mean looking elsewhere, particularly in neighbourhoods that are in transition or on the verge of being gentrified. This is where I use my knowledge as an experienced realtor to help them make smart decisions that will give them the type of community they crave alongside the potential future equity they want.

Choosing a neighbourhood isn’t an exact formula and there have been times where I second guessed my recommendation to clients. Years ago, I had a client who emigrated from New Zealand. He wanted a home with an income suite that was also in his price range and offered good appreciation. I recommended a new, in-transition neighbourhood and as it turned out – he hated it. The home was perfect but the community was just not what he wanted. It worked in the end as he was able to rent both the main house and the income suite and moved to a neighbourhood that was more his speed, but it goes to show that there is no exact science when choosing a neighbourhood that aligns to your wants and budget.

When asked if there are any bad neighbourhoods in Calgary, my answer was a resounding NO. You may disagree but my explanation is simple, what you define as a “bad” area may be someone else’s dream neighbourhood We are all different and when choosing a place to purchase your home take the time to find out what you think makes a great neighbourhood and then start living.

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Calgary Real Estate Board. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.