Know what you are Buying
Before you purchase your next property, we recommend you consider viewing or commissioning specialist reports.
LIM Reports
When purchasing a property it is common practice to purchase a LIM Report (Land Information Memorandum) from your local council.
A LIM provides information on special land features or characteristics (e.g. erosion, hazardous substances), storm water and sewerage, rates owing on the land, title, future plans about the area (e.g. zoning, building heights), builders’ certificates issued, use to which the land may be put and any other information the local council considers to be important.
It can take up to 10 working days to obtain a LIM report when the council is busy, so you may need to factor this into your Sale and Purchase Agreement. You may be able to request an urgent LIM.
Each council will charge for a LIM Report. The charge will vary depending on the council so contact them direct for up to date pricing.
Valuations
A valuation report on a property is recommended as the GV (government valuation) or CV (current valuation) may not provide a true market price for the property. These can be commissioned from independent registered valuers or from Quotable Value New Zealand.
Builders and engineers’ reports
Registered builders and engineers can give a report on a property which helps confirm the house is in sound condition and not likely to be subject to any structural problems.
Contact your local master builders association, the building research association, your local authority or Institute of Professional Engineers to ask for a list of qualified builders and engineers.
