Why Is A Real Property Report (RPR) Required?
Land surveying is an integral activity to be undertaken for successful land development and construction projects. Residential, commercial or any other raw land project necessitates the involvement of trusted and experienced land surveyors. Several services included under the land survey serve different aspects. An important service is the creation of Real Property Reports (RPRs) in Kelowna.
The current article will talk about why a Real Property Report is required for projects in Kelowna and other parts of Canada.
What Is A Real Property Report?
A Real Property Report is a comprehensive collection of documents that offer to describe a property in minutest details. The premises, structures, amenities, boundaries are all detailed out in a legal manner.
What Is The Purpose Of A Real Property Report?
1. A real property report is a legal prerequisite for land development.
2. Helps highlight improvements concerning property and land limits.
3. It lays out the details of the real estate transaction involved.
4. It identifies property boundary dimensions.
5. It outlines any additions or inclusions to the property.
6. It defines the exact location of the property.
7. The easements and rights-of-ways.
8. It helps identify restrictive covenants.
9. It demarcates the above-ground structures.
10. It notes down all structures such as fences, decks, etc.
All the municipal compliances are assured while preparing a Real Property Report in Kelowna. Local laws and regulations are also adhered to. Any future land dispute is avoided by clearly defining land titles. The entire sales history of the plot is mentioned, along with the title search.
Even if a Real Property Report is already made for an old building, it needs to be updated from time to time.
Who Needs A Real Property Report?
Both the buyer and seller need a Real Property Report. The sellers benefit from it by way of protecting him/her from any legalities concerning boundaries and improvements. Moreover, it gives the sellers an opportunity to inform the buyers about the past improvements on the property.
On the other hand, a buyer stands to benefit from a detailed RPR by getting complete information which is otherwise not available. Exact details about the boundaries, possible disputes or encroachments are all mentioned in the report.
In addition, all future parties involved, such as architect, engineers, also make great use of this base and foundation report. They use this as a primary source of information about the plot, or building.
Thereby, indicating that a Real Property Report is quite a critical document made under a reliable land surveyor. The land surveying process is completed with a successful and legally prepared Real Property Report in Kelowna.
CORE Geomatics is an experienced and trustworthy name when it comes to land surveying. Kelowna is popularly trusted for its wide gamut of services including topographical surveys, energy surveys, mining survey, utilities survey and Real Property Report in Kelowna. Contact a team of experts equipped with the latest equipment, state-of-the-art technologies and in-depth industry knowledge.