15 Sep 2010

Court backs buyer who exited property deal

1:35 pm on 15 September 2010

The Court of Appeal has backed a property buyer who cancelled an apartment purchase after being given misleading information by a real estate agent.

The prospective buyers had entered an unconditional contract to buy an apartment at Orewa, north of Auckland, in 2008, on the basis that the building was weathertight.

They later found evidence of leaks in some apartments and walked away from the purchase agreement.

The apartment owner took court action, but it was thrown out by the High Court.

The Court of Appeal has backed the judgment and awarded costs to the would-be buyers.