12 Nov 2021

Lawyer on sunset clauses causing trouble for home buyers

From Morning Report, 8:15 am on 12 November 2021

Sunset clauses in new-build contracts were originally designed to help buyers escape being trapped in construction projects beset by long delays.

Lawyers say that buyers are increasingly being caught out by the same clauses.

Developers in hot housing markets are instead using these clauses to void existing contracts, so that they can resell the property at a higher pricetag - leaving often first-time home buyers in the lurch.

Auckland property lawyer Joanna Pidgeon spoke to Corin Dann.