Further to our blog last year introducing the requirement of Real Property Reports (RPR) in real estate transactions in Alberta (not required with most condo sales), we return to this topic to discuss the question as to when an RPR has to be updated. The seller of a home is normally required to provide the buyer an “RPR showing the current improvements on the Property”.
The age of the RPR is irrelevant if it truly shows the current state of improvements. If the original RPR is unavailable a legible photocopy will be acceptable. We recommend that clients keep the original RPR provided on purchase in a safe place with their other important documents. We do keep copies of the RPR in storage for a limited time, and also scan and save an electronic copy, in case you ever lose your RPR.
Changes on the property that do not have to be updated include: improvements that were removed, moveable sheds, cross fences (only perimeter fences need to be shown), and some driveways if they do not encroach on other boundaries. If a new fence was built exactly where the old fence was, an update is not required.
Changes on the property that will probably require an update: changes to your garage, perimeter fences, decks, stairs to decks, retaining walls, hot tubs, air conditioner units added after June 1, 2008, and window wells (there is some debate on this).
Generally, getting an RPR updated costs less than ordering a brand new RPR. If the original surveyor can be engaged, the update should cost approximately $150 less than a new RPR.
Please contact us if you have any questions on whether your RPR needs to be updated when selling your home.