A LIM Report gives details of the records which the local Council holds in respect of a property and any problems known by the Council that affect the property. A LIM Report will provide you with vital information, such as:
(i) Any additions or alterations carried out on the property.
(ii) If the necessary building consents have been obtained and a Code Compliance Certificate issued following final inspection of any work.
(iii) If there is any solid fuel heater in the property and that the necessary compliance certificate has been issued.
(iv) If the property is subject to any heritage designations, landfill or other geotechnical matters which may affect future building works.
If building works on the property do not have a building permit or a building consent with a Code Compliance Certificate, then it may prove difficult to obtain insurance. It is important to discuss these matters with your insurer to check you are fully covered, and that you and your bank are happy with any exclusions on your cover.
Check with your local Council for current LIM fees. A small investment now can save you thousands in the long run.
By Jaqueline Mayer | Solicitor | 07 571 7007 | jaqueline@bchlaw.co.nz
The information contained in this article is provided for informational purposes only and should not be construed as legal advice on any subject matter.
