When purchasing a property, obtaining a Land Information Memorandum (“LIM”) report from the relevant council is strongly recommended.
A LIM report provides all the documents that a council has on records for a property. Each LIM report contains different information, as some properties may be new builds, while others are just sections or older homes etc.
Some examples of what could be found in a LIM report are:
- soil reports;
- whether resource consent and certificate code of compliance (“CCC”) have been obtained and issued;
- if there are any building works in the area currently being completed or will be in the near future;
- when and how much your rates are;
- engineers report;
- if the property is located on or near a known archaeological site;
- if the property is in a flood zone or high wind zone; and/ or
- if the property is a known leaky home or has tested positive.