Ben Officer on the team recently had an excellent question posed to him by a client that’s selling their home.

Ben,

Do we need to have an RPR ordered, or will Title Insurance be sufficient? We really don’t want to spend the $600 that an RPR will cost us.

- name witheld

Dear client;

In theory Title Insurance is perfectly fine. It’s been in existence for so long, as has become very widely used throughout the nation. It’s a reasonable vessel for closing a sale. However Alberta is one of the last marketplaces to accept Title Insurance and an RPR is still the “common practice” in this province. So while Title Insurance is perfectly fine, there are still people who are scared away by the idea of not having a formal surveyors report on their new home.

I’ve never met anyone who won’t accept a RPR, but there are people who won’t accept Title Insurance.

Given that your home is worth in excess of $550,000 I think it’s a small price to pay to order the RPR for the home. I’d hate to lose a solid buyer in this competitive real estate market over something as silly as an RPR.

- Ben Officer
ReMax Real Estate (Edmonton)
www.Knock-knock.ca
(780) 701-9090

John Carle  (491 Posts)

John Carle is a Realtor with RE/MAX Real Estate in Edmonton, Alberta. John is the lead Realtor with the Knock-Knock.ca real estate team. Licensed since 1999, John Carle has a reputation in the real estate business as a man who gets the job done.