Leaky Buildings

29 September 2007 - Cairns Slane News Spring 2007

Leaky buildings are constantly in the news yet are still being bought and sold.  “Buyer beware” is the catch-phrase here!  We are aware of numerous leaky apartment buildings and a quick call to any of our property team would be a good place to start if you are in the market for an Auckland apartment.  If there is any chance that the property you are buying could be leaky then you need a robust condition in your sale & purchase agreement enabling you to cancel if you obtain advice from a qualified person that the property could be leaky.  If you do inadvertently buy in a leaky building you may have to sell at a huge loss or pay the cost of repairs and litigation.