tlc report

WHAT IS A TLC REPORT?

The most efficient and cost effective way to get all the vital ‘legal’ information about a property in an easy to understand report.

The 'legal aspects' equivalent of a builders property report, a valuation report, or a LIM report.

The only report of its kind available in New Zealand.

One of our lawyers will check over all the legal information about a property that buyers and sellers need to know, including the Title, Council LIM, and the Agreement to buy/sell the property, and will then put all the important information into our TLC Report in every-day, uncomplicated language so everyone can see that everything is in order with the property, from a legal perspective.

The price of our TLC Report is $495.00 plus GST.  We credit you back $100.00 if you instruct us to act for you on your sale or purchase of that property.

Our report will be completed and sent to you within three working days from receipt of your completed form, payment and relevant documents.  If you require a TLC Report more urgently however, please contact us directly to discuss this and we would be happy to accommodate any urgent requirements.

 WHY SHOULD I ORDER A TLC REPORT?

Are you selling your house, and want to get the best price for it?

Are you buying a house, and want to check it is ‘legally’ in order, in the most efficient and cost effective way?

Are you an agent wanting to maximise sales and also evidence that you are giving people all the necessary legal information about a property?

This is what our TLC Report is about!

WHY SHOULD PEOPLE SELLING A HOUSE GET A TLC REPORT?

Our TLC Report may help to maximise the number of potential buyers, and consequently, help to get the best price!

Much like if you have a LIM from the Council to show a potential buyer, if buyers can view your TLC Report on the property they are likely to feel more confident about proceeding to make an offer, or bidding at auction.  Each and every buyer is wise to undertake a legal check of a property they would like to buy. This can be a costly exercise however, especially if the property is being sold at auction and there is no guarantee that the buyer will win at auction, which can make people hesitant about proceeding.  

You will be an informed seller.

This is important as you will know in advance if there are any issues with the property that need to be addressed.  For instance, if there has been work done at the property that does not have council consent it will be identified and you may address this in advance. Otherwise you may face being sued for breach of contractual duties, having to reduce the purchase price, or having a buyer pull out if the agreement is still conditional. In the current market where many properties are in hot demand, purchasers are often quite willing to accept a defect when they know about it upfront.

Alternatively, you may choose not to disclose the report to prospective purchasers; it’s your choice!

WHY SHOULD SOMEONE BUYING A HOUSE GET A TLC REPORT?

You will get the necessary legal information for a property in the most efficient and cost effective way!

It is very important to check all the legal aspects of a property before you commit yourself to buying it, especially if you’re buying at auction because you cannot make the agreement conditional! You don't want to end up with an expensive lemon!

We understand that when buying a house, time is often of the essence and you don’t want to miss out on ‘the house’.  Because we are mindful of this, we offer fast turnaround on our TLC Reports.

WHY SHOULD AGENTS ORDER A TLC REPORT

Increase potential buyer numbers by offering them legal information at no extra cost.

You are informed about the property, will know what needs to be raised with the seller, and be able to provide answers to buyers' questions, without having to read and interpret legal documents, and without taking on extra liability.

TLC Reports help you to meet with your obligations under the Real Estate Agents Act (Professional Conduct and Client Care Rules 2012), and reduce your liability in respect of your obligations.

Recent court cases state that an agent needs to be able to explain the Certificate of Title and anything on it to buyers and sellers, so the TLC Report protects you in this regard.  It is a record that you have given buyers and sellers all the necessary correct information.

Feel free to contact us if you have any further questions.

A BIT OF BACKGROUND ABOUT OUR TLC REPORTS...

Properties in Auckland are being snapped up at auction, with so many people vying for the same property.

People buying houses at auction are spending huge amounts of time and money on doing all their homework before an auction, only to often miss out and end up completely frustrated and disillusioned.  Often people have to repeat this exercise 3 or 4 (or even more) times before they finally succeed.

We decided something needs to be done about this inefficiency of time and cost problem for buyers and came up with the TLC report.

When someone buys a house at auction they do so unconditionally, meaning they have to do all their homework on it before the auction.  It is common for agents to put together a property information pack which usually includes a copy of the agreement to purchase, the title to the property and a LIM (among other information).  It is then advisable for anyone wishing to bid at auction to have all this information checked over by a lawyer.

We made some enquiries with others lawyers about how much they would charge for checking this information and it was often in excess of $500.00 plus GST and disbursements for a straightforward property.  Not to mention they often get back to their clients with a big long indecipherable letter with their findings, and in a less than timely fashion which is critical when an auction is impending.

The TLC Report provides this same service in an efficient, cost effective manner that makes sense to everyday people!

Ready to get started?

To order a TLC Report for your property, please complete our TLC Report Order Form or contact us if you have any questions.

DISCLAIMER: This information is given as a guide only. All information in this website is to author’s knowledge true and accurate. No liability is assumed by the authors, or publishers, for any losses suffered by any person relying directly or indirectly upon the information contained in this website. It is recommended that you consult a representative of The Property Practice Ltd before acting upon this information.