Selling a house means a lot of paperwork. Amidst all the to-dos, you may also hear a term: the Real Property Report, or RPR. An up-to-date RPR plays a crucial role in a successful transaction. This article breaks down whether you need an RPR to sell a house.

What Is a Real Property Report (RPR)?
RPR is a legal snapshot of your property. It's a survey document that accurately illustrates the location of your house, garage, sheds, decks, and fences in relation to your property's legal boundaries and also identifies any easements, rights-of-way, or encroachments. A complete RPR includes a "Compliance Stamp" ensuring all structures on your property adhere to local bylaws.

What's The Role of An RPR?
Though the legal requirements may vary by location, a valid RPR plays a crucial role in several ways:

Legal Protection: An RPR ensures that your property is free from boundary issues. The buyer also gets the assurance that what they're purchasing is legally sound.

Better Transaction: A missing or outdated RPR is a common delay in a real estate transaction. The buyer's lawyer always asks for an RPR. Having an up-to-date report in hand prevents last-minute scrambling.

Building Buyer Confidence: In a competitive market, a current RPR with a compliance stamp means transparency and diligence. It shows a potential buyer that you've completed every legal process and there are no hidden issues.

What If You Don't Have A Current RPR?
Any changes to your property since you created your last RPR mean you need a new report. Though some buyers accept title insurance as an alternative, many may still ask for an RPR to fully understand what they are purchasing.

Avoid legal delays or deal-breakers with an up-to-date RPR report by the best real estate lawyers near you. You can count on Peter B Mason Real Estate Lawyers from reviewing your RPR to handling compliance and closing. Taking care of this early makes your sale smooth, protects you from liability and builds the buyer's trust.