What is a Lim?
A LIM ( Land Information Memorandum ) is a written report by the local territorial Authority that includes a detailed history of a properties land and its buildings. It is invaluable in checking for potential issues which may affect the site, as well as any future developments in the nearby area.
We recommend all Agreements be subject to obtaining a LIM and a buyer being satisfied with it, before they finalise their purchase
What does a LIM include
- Special features or characteristics of the land like erosion or subsidence or the presence of hazardous contaminants.
- Details of stormwater and sewage drains
- If there any rates owing on the land
- Details of approved permits and consents, or the ABSENCE of them relating to buildings, etc.
- Details of current and proposed zoning
- Historic places
What does a LIM cost
Approximately $360 inc. gst ( HCC )
Available within 10 working days from receipt of payment
LIMs can be ordered online or in person at the appropriate Authority / Council
What if I need an urgent LIM
If you require an urgent LIM this will be available within 3 working days from receipt of payment.
An urgent LIM will cost Around $465 inc. gst ( HCC )
How much are the Rates?
Check out your Territorial Authority website, and go to the section entitled Rates, Building and Property. Under Property and Rates you’ll find the rates information, RV, Legal Description, etc.
What is a Body Corporate?
If a property is on a Unit Title, it will have a Body Corporate. This most commonly applies to apartments and units and it’s intent is to group together all the owners as a single entity.
The Body Corporate is administered by a Body Corporate Manager who is responsible for the management and maintenance of the entire building, common areas, etc.
Each of the owners of the units pay an annual levy to a fund to cover general maintenance, gardening, Insurance, as well as any major repairs which may arise.
