REAL PROPERTY REPORTS
A Surveyor's Real Property Report is a legal document that shows the location and dimensions of a property and any improvements (e.g. buildings, fences) on the property, as well as any easements, rights-of-way, or encroachments onto the property from adjacent properties. The document consists of a plan showing the physical improvements with a written report outlining the details of the property.
In a real estate transaction, the Surveyor's Real Property Report can be relied upon by the purchaser, seller, realtor, lawyer, financial institution, and the municipality as an accurate representation of the property.
Who needs a Surveyor's Real Property Report?
Property Purchasers, to be informed of:
the location of buildings relative to the property lines.
registered easements that may restrict future developments.
encroachments that may become a liability to the purchaser.
Property sellers, to provide:
a plan and report that clearly illustrates the marketability of the property.
Realtors, to provide:
a visual representation of the property for sale.
information to avoid delays in completing property transactions.
Lawyers, to assist in:
verifying the current state of your title.
Financial Institutions, to verify:
that there are no encroachments that may affect the marketability of the property offered for security.
Municipalities, to ensure:
compliance with bylaws and zoning regulations.
WHAT IS A REAL PROPERTY REPORT?
A Real Property Report (RPR) is a legal document that clearly illustrates the location of significant visible improvements (permanent stuctures and easements) relative to property boundaries. It can be relied upon by the buyer, the seller, the lender and the municipality as an accurate representation of your property. Often following an RPR request is a Municipal Compliance is request. This is when a municipality will provide a Certifcate or place a stamp on an RPR showing that based on the RPR the property is compliance with all Land Use By-Laws within that municipality. Benchmark also provides the service of applying for compliance on your behalf so you don't have to deal with the hassel.
We are located in Medicine Hat, providing local services to our communities and surrounding area. Benchmark ensures a quality product at an affordable price.
WHAT IS TITLE Insurance?
Title insurance, on the other hand, is a type of insurance that protects the owner of a property or lender against loss due to defects in the title to the property. It is typically purchased at the time of purchase of a property and protects against loss resulting from title disputes, liens, encumbrances, or other issues with the title that may not have been discovered during the purchasing process.
a Real Property Report and title insurance serve different purposes. A Real Property Report is useful for showing the physical features of a property and ensuring that any improvements on the property are properly located, while title insurance protects against defects in the ownership of the property. It is possible to have both a Real Property Report and title insurance for a property.
Please fill out the form below to book your Real Property Report and we will contact you for confirmation.