Scott Larsen Recommended Reports

Recommended reports

posted in: Blog, Real Estate | 0

Scott recommends you consider viewing or commissioning these specialist reports before purchasing a property.

Land Information Memorandum (Council LIM report) 

A LIM report is a summary of information Auckland Council has on a property. It can include information about:

  • potential erosion, subsidence or slippage, flooding and possible presence of hazardous substances
  • private and public stormwater and sewerage drains
  • rates, including any overdue rates
  • building, plumbing/drainage, and resource planning consents
  • special conditions including NZ Historic Places Trust listings
  • any information which has been notified to the council by any statutory organisation in terms of any other act
  • network utility in relation to the Building Act 1991 or 2004.

You can order a LIM report from Auckland Council online. It can take up to 10 working days to receive, so make sure to allow plenty of time. In some cases, the real estate salesperson may have a LIM report available for you.

Title

A property title gives an up-to-date picture of the legal ownership of land in New Zealand. They show a property's proprietors, the legal description and the rights and restrictions registered against the title, such as a mortgage or covenant. In many cases, the salesperson will have the title available for you. Alternatively, you can order a title from Land Information New Zealand.

Valuation

Every three years, the Council does a mass appraisal of properties so they can work out everyone's share of rates. Therefore a property's Council Valuation or CV may not represent a true market price. Scott recommends commissioning a valuation report from an independent, registered valuer or from Quotable Value New Zealand.

Builders and engineers' report

When purchasing a property it’s vital to be aware of its condition. Registered builders and engineers can provide a report to help you understand the structural and building condition of the house. This involves an inspection to identify and report on the condition of components, finishes, structure, systems and services of a property, as well as identifying defects and problems that may be present.

Geotechnical report

If the property you are interested in purchasing is a cliff top section or if the land may be unstable, a Geotechnical Report is a good investment. An engineer will investigate the site, drill boreholes and conduct testing to assess the stability and foundation conditions. For a list of qualified engineers, go to The Institution of Professional Engineers New Zealand.