A Surveyor’s Real Property Report (RPR) is a report prepared by a Certified Land Surveyor. It has to reflect the current status of all the external structures that have been built on the premise. The RPR has to be submitted to the municipal government to apply for a Municipal Stamp of Compliance.
- From the Buyer’s prospective, having a RPR will identify any encroachment issues that the property may have with the city and/or the neighbouring properties. Until the encroachment issues have been resolved, there might be an issue with obtaining financing. Surprisingly, reviewing the RPR is something that many buyers often do not think of to include in their buyer’s conditions.
- From the Seller’s prospective, an updated RPR will avoid any unnecessary delays, extra costs, and sums of money being held back.
You may contact me for further legal advice.
Note: All postings in this blog are for information only, please consult a lawyer for proper legal advice.