Alberta Real Estate Licensing Exam Practice · Question
Maria is selling her acreage property near Cochrane. During the negotiation process, the buyer requests a current Real Property Report (RPR) with evidence of municipal compliance. Maria informs her real estate associate, John, that her existing RPR is 8 years old and does not show a recently constructed deck. What should John advise Maria regarding the RPR?
The AREA Residential Purchase Contract often includes a clause requiring a current RPR with evidence of municipal compliance. A new RPR is needed to reflect the
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Question: Maria is selling her acreage property near Cochrane. During the negotiation process, the buyer requests a current Real Property Report (RPR) with evidence of municipal compliance. Maria informs her real estate associate, John, that her existing RPR is 8 years old and does not show a recently constructed deck. What should John advise Maria regarding the RPR?
Answer options:
- Advise Maria that the old RPR is sufficient, as the buyer can get their own updated survey.
- Instruct Maria to simply add the deck to the old RPR herself, as it's a minor change. ✅ Recommend Maria engage a land surveyor to prepare a new RPR and then apply for municipal compliance for the new deck.
- Suggest Maria offer the buyer a reduction in price instead of providing an updated RPR.
Correct answer: Recommend Maria engage a land surveyor to prepare a new RPR and then apply for municipal compliance for the new deck.
Explanation: The AREA Residential Purchase Contract often includes a clause requiring a current RPR with evidence of municipal compliance. A new RPR is needed to reflect the deck, and compliance must be obtained for all structures, as per typical RPR clauses in the Residential Purchase Contract.
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