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Why is a LIM Report Important?

It’s tempting to skip the LIM report when buying a house to save some cash upfront, but think! While it may seem like a smart move now, it could lead to unexpected issues that cost you much more down the line. Protect your investment and make informed decisions for a smoother home buying experience. Trust us, it’s the peace of mind!

What is a LIM Report?

A Land Information Memorandum (LIM) is requested through LIMNZ and prepared by the local council. It provides a summary of current property information from various departments as of the issue date. The LIM may not include all relevant details, such as unreported weathertightness issues.

Information typically found in a LIM includes:

- Stormwater or sewage drains

- Heritage New Zealand protections

- Special land features like erosion or flooding

- Any rates owing on the land

- Permits, building consents, or requisitions

- Zoning regulations and conditions for land use

- Notices from statutory organizations regarding the property.

Can I get the information I need without applying for a LIM?

Your council may permit you to inspect the property file, which includes plans and consents, for a small fee. However, they won't be held responsible for any information that might have been omitted. Keep in mind that the property file may not contain details like zoning and flood risk areas, and a LIM is unlikely to include the original property plans (though the Council property file will). Some councils offer zoning and flooding information on their websites.

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The benefit of purchasing a LIM through us is that the Council will be liable if the provided information is inaccurate or causes harm. Additionally, a LIM conveniently consolidates all relevant details, saving you the time and effort of researching everything individually

How a LIM Report Can Affect Your Property’s Resale Value

A LIM report isn’t just for buyers—it can impact your property’s resale value down the line. This council-issued document details zoning, natural hazards like flooding or subsidence, and consents for work done on the property. Issues flagged in a LIM, such as unconsented alterations or planned infrastructure like road widenings, can scare off future buyers or lower offers.

For example, if a LIM shows a history of flooding, buyers may worry about insurance costs or livability, reducing the property’s appeal. Similarly, unlisted construction—like an extension not on the LIM—could signal non-compliance, prompting buyers to demand repairs or walk away. On the flip side, a clean LIM with all works properly consented can boost buyer confidence, potentially increasing your sale price.

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Before selling, review your property’s LIM to address red flags. Fix unconsented work or disclose issues transparently to avoid surprises. Buyers typically need an additional 10 working days to get a LIM, but as a seller, proactively obtaining one can streamline the process. A LIM’s insights help you price competitively and market your home as a safe, compliant investment.

LIM Reports vs. Building Inspections: What’s the Difference?

When purchasing a home, you’ll hear about LIM reports and building inspections, but they serve different purposes. A Land Information Memorandum (LIM) is a council-issued document detailing a property’s zoning, flood or erosion risks, heritage status, and approved consents. It reveals council-involved works but won’t cover structural integrity or contamination issues like methamphetamine.

A building inspection, on the other hand, involves a professional assessing the property’s physical condition. It checks for leaks, structural defects, or pest damage—details a LIM can’t provide. For example, while a LIM might confirm a deck’s building consent, only an inspection can verify if it’s watertight.

Both are crucial for due diligence. A LIM might flag future risks like road widenings, while a building inspection ensures the home is sound today. Costs vary—$200-$400 for a LIM and $400-$800 for an inspection—but skipping either could mean costly surprises. Combine them for a fuller picture, and always consult your lawyer to interpret findings. Together, they help you make a confident offer on your dream home.

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