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Conveyancing Q&A - Checking LIMs

Monday, March 21, 2016

 

In this week's Conveyancing Q&A, Hilary Jenkins shows you how to minimise your legal fees.  

APIA Ask An ExpertI am new to investing in property having only bought one property so far (my home).  Should I always obtain a LIM report?  What should I look out for in a LIM report for a property meant to be a rental.


APIA Ask An Expert

It is always a good idea to get a LIM for any property, regardless of why you are purchasing as it can affect the current and future property use as well as on-sale value if there are problems with unconsented work.

What to look for in a LIM for a rental is no different than if it was your own home - check carefully at the details relating to zoning, building consents issued against work actually carried out and all the hazard information as well as building/site/services plans associated with the property. 

Disclaimer - The answer provided above is informational and should not be relied upon as legal advice.  For personalised legal advice, please feel free to contact Lifestyle Legal Services Limited or your professional legal advisor directly.  

Hilary Jenkins

Hilary is the director of Lifestyle Legal Services and a veteran of the conveyancing industry having built up an impressive work history of over 20 years (15 of which as a Registered Legal Executive).

To date, Hilary has played an integral part in the success of a wide range of residential and commercial transactions.  Lifestyle Legal stem out of Hilary's passion for the property industry and desire to offer clear and down-to-earth advice for her customers.  


Do you have any conveyancing related questions for Hilary?  Email your questions through to admin@apia.org.nz.  

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Mathieu Holt- Managing Director, The Tenancy Practice Service & TPS Credit Control
Through the Association I found the channels and methods to fund the purchase of property I never dreamed about. Grant Brown

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Fantastic organisation. The networking opportunities are brilliant and provide us with information and opportunities that cannot be obtained anywhere else. We learn something new at every meeting and we've been in this game for nearly 20 years. Pauline and Gyanen Kumar

I find the information obtained from various APIA meetings very useful in guiding my own property investment and rental management.  I also enjoy the networking opportunities with like-minded investors.  I am inspired by other investors’ success and find the more experiences and knowledge that I share with others, the more confident I become.  

Thanks to all APIA event organizers and administrators for your brilliant work. 

Stella Shao

I like talking to people and learning from their experience because it gives me the confidence to invest well. I think it is a knowledge thing. I now know I am doing things the right way.

Stephen Weatherall

My APIA membership has become a total success.

Every time I attend a monthly or regional meeting I come away with so many useful and positive tips that have added value to my property investments and management.

Not only that, the website is a great place for practical advice and useful information. It has now evolved into an important resource for my business.

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Tim Duffett, Plan A Investments Limited