Yes, that is correct! You must provide your lawyer with the Real Property Report before the closing/possession date. A lawyer will usually ask for the copy before having you come in and sign everything or for you to bring it with you for the appointment.
If you have made any changes to the exterior of your home (think: changed the deck or added an AC system) you will need a new RPR. Surveyors can help you get a new one.
Need a surveyor? Bōde has a pre-vetted list here: