REAL PROPERTY REPORTS (RPR’S) IN RESIDENTIAL REAL ESTATE
While the content of this post should be considered reliable and informative, this should not be considered legal advice and we recommend that you contact our firm directly should you have any questions.
It is always a good idea for a seller of a residential house to ensure that they have a current RPR with compliance prior to listing the property for sale. If the seller is unable to deliver a current RPR to the purchaser on or prior to the Closing Date, the purchaser may refuse to close and the Seller could be liable for damages.
What is a real property report? A real property report, or RPR, is a legal document that clearly illustrates the location of significant visible improvements relative to property boundaries. Usually the purchase agreement will require the Seller to provide a real property report showing the current improvements on the Property with evidence of municipal compliance or non-conformance. The RPR does not have to be an original; a photocopy of faxed copy will usually suffice.
Every municipality is different and will have different requirements for a real property report. It is important for the seller to be aware of the specific rules that apply to their municipality.
Real property reports are not required for the sale of condominium properties.