infonews.co.nz
INDEX
REAL ESTATE

First National Real Estate Have Some Advice on Recommended Reports

Monday 23 September 2019, 4:12PM

By Beckie Wright

337 views

First National Real Estate on the Coromandel Peninsular recommend that before you purchase your next property you consider viewing or commissioning specialist reports, starting with a LIM Report. When purchasing a property it is common practice to purchase a LIM Report (Land Information Memorandum) from the local council.

A LIM provides information on special land features or characteristics (e.g. erosion, hazardous substances), storm water and sewerage, rates owing on the land, title, future plans about the area (e.g. zoning, building heights), builders certificates issued, use to which the land may be put and any other information the local council considers to be important.

It can take up to 10 working days to obtain a LIM report when the council is busy, so you may need to factor this into your Sale and Purchase Agreement. You may be able to request an urgent LIM. Your First National Real Estate salesperson will know the current costs and can help you order a LIM report, and the following are their relevant local authorities. Whangamata and Onemana, Thames Coromandel District Council and Whiritoa - Hauraki District Council.

Next up are Builders and Engineers Reports. Registered builders and engineers can give a report on a property which helps confirm the house is in sound condition and not likely to be subject to any structural problems. First National Real Estate can give you a list of local building inspectors or you can contact your local master builders association www.masterbuilder.org.nz or the building research association www.branz.co.nz or your local institute of Professional engineers www.ipenz.org.nz/ipenz to ask for a list of qualified builders and engineers.

Finally, a valuation report on a property is recommended, as the GV (government valuation) or CV (current valuation) may not provide a true market price for the property. An accurate valuation can be commissioned from independent registered valuers Townshend Cullen Associates or a more generalised valuation from Quotable Value New Zealand www.quotable.co.nz

First National offer a full real estate service, and are experienced Auctioneers, (offering Tenders too) and of course Fixed Price, so for more information on homes for sale, Whangamata real estate and houses for rent please go to http://www.corofirstnat.co.nz .