First Title's Home Ownership Protection Policy can help you deliver a better service to both sides of the transaction:
> your vendor can achieve an unconditional agreement faster;
> the purchaser achieves greater protection against more property law risks than a LIM Report could ever disclose.

> Enhancing Saleability - arrange for the vendor to attach a policy to a sale
> Vendor's Confirmation
> Closing a Purchase - without going out on a LIM

The standard Agreement for Sale and Purchase approved by the R.E.I.N.Z. and the A.D.L.S. provides for a 15 day period for the purchaser to obtain a LIM report - if the agreement is conditional on obtaining a report. This period is often shortened considerably in order to reduce the timeframe of the agreement.

The Home Ownership Protection Policy may be ordered over the phone in under half the time of even an urgent LIM report. It provides a level of comfort way beyond that of a LIM report, and (amongst other things) provides cover from anything adverse contained within public records.

While we advise that it is not necessary to get a LIM report for each property, we also advise that if a physical inspection of the property suggests that there might be a defect that if discovered would cause the purchaser to not proceed with the purchase, then they should visit the Council and check on this specific issue, e.g. flood risk. Apart from being far less expensive than a LIM report it also puts the Council on notice of a specific concern.

Even if a clean LIM report is obtained, there is merit in also taking out a policy as it provides cover over and above that of:
> the basic Government guarantee that what you see on the title is what you will get;
> a lawyer's assurance that he or she has done everything professionally required of them to investigate the registered title and all potential off title property law problems with the property; and
> relying on a right to sue a lawyer for negligence if, contrary to the lawyer's undertaking, the mortgage he or she prepared is unenforceable.

Most significantly, the insurance is a no-fault indemnity. This means you don’t have to prove someone was negligent. If a claim arises, you only have to prove that you have suffered or are likely to suffer a loss that is insured by the policy and you are covered.

Click on Claims Examples to read about situations in New Zealand where Title Insurance would have prevented a lot of hassle and concern for purchaser.