Quote:
Originally Posted by mjt
Hello all,
Wondering if someone can help me here, and thank you in advance.
I am in the process of buying my first house with my (new) wife and it is a 'Bare Land Condo' Townhouse project by a reputed builder in Calgary.
I do not necessarily understand all the ins and outs of a bare land condo vs. the other types but something that I have read on the internet is the requirement to have a "Real Property Report" for the townhouse.
Is anyone here aware if that is something that is generally required for a new condo or only resale? Should I be expecting the builder to provide me one of these and paying for it?
Thanks again for any help you can provide.
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While I'm sure people with more experience can provide more complete answers, the AREA Condominium Purchase Contract (relevant for a resale of the unit) does have a requirement for an RPR. However, you are unlikely to get one from the Developer on a first sale (and it's likely they do not use the AREA form of condo purchase contract - likely have their own). Keep that in mind if you are going to resell.