Australian buyer wins back $220,000 deposit in a $2.2 million land deal dispute

An Australian property buyer has recovered a $220,000 deposit after a court upheld its decision to terminate a $2.2 million land purchase involving a proposed 15-home development. The dispute arose when planning approval left important details of the subdivision unresolved, despite the seller having represented that the land would be divided into 15 lots.

The Queensland Court of Appeal ruled that the buyer had a valid contractual basis to walk away, finding that uncertainty surrounding the approval supported its concerns about whether the promised development could proceed as expected.Why did the Australian property buyer terminate the $2.2 million dealBrades Property Agnes Water Pty Ltd had agreed to sell land to Skyrock Sun Pty Ltd for $2.2 million, reports Case Law Wire. The buyer was to put down a $220,000 deposit in the transaction which would split the property into 15 residential lots.Prior to signing the agreement, the seller’s real estate agent had represented that the land would be subdivided into 15 lots.