Legal and Due Diligence Cost Estimator
Frequently asked questions
What are the legal and due diligence costs when buying a house in NZ?
Typical costs include: solicitor/conveyancing fees ($1,500–$2,500 for existing properties), a LIM report ($300–$500), a builder's inspection report ($500–$1,000 for existing properties) and mortgage registration (approximately $105). Total due diligence costs commonly range from $2,500 to $4,200. New builds generally do not require a builder's report.
What is a LIM report and do I need one?
A LIM (Land Information Memorandum) is issued by the local council and lists all information it holds about a property: building consents, drainage, zoning, natural hazard status and any notices. It is strongly recommended for all NZ property purchases. A LIM costs approximately $300–$500 and takes 5–10 working days. Without one, you may miss significant issues affecting the property's value or insurability.
Do I need a builder's report on a new build in NZ?
Generally no. New builds in NZ should have a Council-issued Code Compliance Certificate (CCC). A full builder's inspection is mainly recommended for existing properties. However, some buyers request a report on newly completed homes for added peace of mind.
How much do lawyers charge to buy a house in NZ?
Solicitor fees for residential conveyancing typically range from $1,500 to $2,500 for an existing property purchase. New builds and simpler transactions may fall toward the lower end. Fees vary by firm, region and complexity. Always get a quote before instructing a lawyer.