The LIM Condition
If you made your offer conditional on a satisfactory LIM report, you now need to start working towards satisfying this condition.
the key things for you do to now are:
- Request a LIM or Land Information Memorandum from the Council as soon as possible. (It can take up to 10 working days for the Council to issue a LIM, then we need time to review it, report to you and discuss if there are any issues, and time to negotiate with the other side if there are issues)
- Forward the LIM to your lawyer as soon as you receive it
- We will review the report, and then email you a written review – you MUST read this review
- Discuss with us any issues
- If there are issues, discuss with us if you:
- will accept the issues as is
- want to try to negotiate with the vendor regarding the price
- want to try negotiate to get the vendor to rectify the issues
- cancel your offer on the basis of those issues
- If there aren’t any issues then you need to let us know that you that you are happy with the LIM report and that we can let the vendor’s lawyer know that the LIM condition is satisfied
Frequently Asked Questions About LIMS
The agent gave me a copy of the LIM, do I need to request and pay for my own copy?
We recommend that you do…
How do I request a LIM?
Contact the Council of the area in which you are purchasing the property – for example if buying a property in Auckland, you would contact the _________ department of the Auckland Council (insert link/contact details) and request a LIM (or you go online?)
How long does it take for the Council to send the LIM?
The council is under an obligation to provide a report to you within ten working days of you applying for it.
How much will it cost to get a LIM from the Council?
As of June 2022 Auckland council charges – ______ for a LIM. Other councils?
What information is contained in the LIM?
The report normally indicates:
1. What building consents have been issued for any buildings on, or alterations to, the property. It is important that you pay particular attention to this as the lack of a building consent could cause problems in the future.
2. The zoning for the property.
3. Site plan of dwelling.
4. Location of drains.
5. Any outstanding council requisitions or requirements on the property which have not been complied with.
6. Rates information.
7. Any proposed public works in the area.
23 November, 2023 | Bret Gower
9 November, 2023 | Chantal Laidler
2 November, 2023 | Bret Gower
17 October, 2023 | Nathan Tetzlaff