Needing a real property report to sell your house is not required to sell your house. However, in most house selling transaction, the buyer's Lawyer will request for a Real Property Report by the Seller or the Buyer's Lawyer will perform a property report survey.
In Edmonton, the property report is named the Real Property Report or the RPR. The purpose of the report is to ensure the property is in compliance with the current Bylaw and Building Safety Code with the City of Edmonton. In Edmonton, applying for the compliance Cetificate with the City, a Real Property Report will be required.
Once the Real Property Report is submitted to the City for review for compliance, the City will take about 10-15 days to review the property report and will issue a Compliance Letter stating if the property is in compliance or not. If the propoerty is not in complaince, the letter will list all the items that are not conforming or in compliance with the current Bylaw or code.
If it is not complaince, the buyer will want the seller to resolve all the items with the City prior to the final purchase and normally, an amount of money will be holdback until all the items are resolved with the City to achieve compliance.
Depending what itmes in the property are not complaince with the City of Edmonton, it could take anywhere from 5 weeks to 3+ months to resolve the issues with the City.
Please contact us for more information.
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