Title Insurance vs. Real Property Report

Should You Accept Title Insurance Instead of a Real Property Report?

Following up on their previous two videos (1 and 2), Barry and Keith compare title insurance and real property reports in Alberta real estate. Which should you choose? For the buyer, it often depends on what you wants to do with the property after purchase. Watch the video to get Barry’s explanation!

 

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Real Property Reports in Alberta

What’s a Land Survey and Why Do You Need One to Sell your Property?

Barry continues his conversation with Century 21 realtor Keith Faria. This time they’re talking about Real Property Reports (RPR), which are two-dimensional drawings created by professional surveyors.

In Alberta, the standard real estate purchase contract requires sellers to provide a current RPR and proof of municipal compliance. Watch the video to get an explanation of what these terms mean and why they’re important.

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Secondary Suites and Real Property Reports in Alberta

Podcast Episode 106:

“A Real Property Report
with Municipal Compliance Doesn’t Prove a Suite is Legal.”

Are you looking to buy a property with a secondary suite? Ideally, you want to buy properties with legal secondary suites. But guess what? A Real Property Report doesn’t prove a suite’s legality in Alberta.

Download the audio file HERE.
Download the handout HERE.
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Title Insurance

Podcast Episode 77:
Is Title Insurance Worth It?

In Western Canada, title insurance was created to cover problems with real property reports, but did you know that it also covers many other issues? In this Tale, we have a case where the lender got title insurance, but the buyer/homeowner did not. When there was a $21,000 claim made regarding gap registration, the matter went to court. This problem could have been avoided with a mere $50 of extra insurance! Many of the Tales I tell are like this one, which is all about helping you avoid other people’s mistakes.

Download the audio file HERE and the text/handout HERE.
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Real Rules of Real Estate: RPRS & Realtors

Podcast Episode 63:
Real Property Reports and Realtors.”

In this Tale, our investor was right to walk away, but they will probably lose their deposit. Avoid using the same realtor for both buyer and seller. Know the difference between a Real Property Report and Title Insurance. Make sure your team members are real estate investment professionals, not just family, friends, or people who speak your language.

Download the audio file HERE and the text/handout HERE.
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Real Property Reports (Part 3)

Podcast Episode 38:
Do I Need a Real Property Report (RPR)?

Diligence is one of these most important aspects of success as a real estate investor. In this third part of our series on Real Property Reports, we look at three more examples of how a Survey Certificate can save you a lot of time, trouble, and money.

Download the audio file HERE and the text/handout HERE.
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Real Property Reports (Part 2)

Podcast Episode 37:
Who Needs a Real Property Report? (Part 2)

Continuing from our previous Tale, we have another example of what can happen in a real estate deal without getting a proper survey done first. In Alberta, the seller is supposed to provide a Real Property Report and written confirmation that the property complies with municipal bylaws. No matter where you are, insist on this before you agree to purchase!

Download the audio file HERE and the text/handout HERE.
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Real Property Reports (Part 1)

Podcast Episode 36:
Who Needs a Real Property Report?

Before buying a piece of real estate, make sure to get an up-to-date survey of the property done by a professional. This report will help you to insure that there are no encroachments and that everything complies with municipal bylaws. This Tale illustrates the kind of problems that can occur if you don’t get a Real Property Report or Survey Certificate.

Download the audio file HERE and the text/handout HERE.
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