Clients often ask us if we see any point in obtaining a LIM Report for a property when they can go to the Council and view the property file.  Our advice is to always invest in obtaining aLIM from Council prior to purchasing a property.  Your purchase of a new home, whether or not it is a family home or an investment property, is a major investment. It is worthwhile spending a little money upfront to protect that investment.

ThePros:

Obtaining a LIM from Council creates a contract of sorts between you and theCouncil itself.  That means, you can then rely on the information contained in the LIM being correct.  Should you realise after purchasing that something has been omitted from the LIM (i.e. the property had been known to have flooding, erosion or subsidence issues) and this information is omitted from the LIM, you may have some remedy against the Council for any loss you may incur as a result.

TheCons:

By viewing the Council file, you cannot be certain that you are obtaining all the relevant information required (i.e. whether there are building consents or permits for any dwellings constructed on the land or additions made).  Lack of Council consent could have a significant impact to you obtaining finance and insurance.

For more information contact the office.