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A disgruntled purchaser claimed against a real estate agent, arguing that failing to disclose the existence of a structural engineer’s report was a breach of the Real Estate Agents Act 2008 and was a misrepresentation. They argued that they would not have entered into the agreement for sale and purchase had they known about the contents of the report.
Real estate agents have obligations to purchasers to disclose any known defects in a property. They also have obligations where, if it would appear likely that the land may be subject to hidden or underlying defects, they must obtain evidence that the land is not subject to the defect or ensure the purchaser is advised of any significant potential risk so the purchaser can take expert advice.
This can be a difficult area for real estate agents to navigate as it can be very fact-specific.
In the above scenario, upon taking legal advice, the agent was able to negotiate compensation payable to the purchaser and was able to avoid any fines or loss of their licence to practice as a real estate agent.
Real estate agents are subject to a number of legal requirements under the Real Estate Agents Act 2008 and its accompanying Rules. We are able to assist real estate agents with advice about their legal obligations, particularly about their disclosure requirements and other legal issues that can crop up in complex property matters.
Call us for a relaxed friendly chat on 04 4736 850 or email us at lawyers@raineycollins.co.nz
Our People to Contact
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| Laurie Pallett |
| Property & Personal Legal Services |
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| Thérèse Greenlees |
| Property & Personal Legal Services |
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| Claire Tyler (nee Coe) |
| Property & Personal Legal Services |
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