APF Properties Pty ltd v Kestrel Holdings Pty Ltd
The inherent risks for valuers in accepting advice given to them by the vendor of a large rural holding about critical characteristics of the land including the cropping area without independently verifying that information before publishing their valuation resulted in the findings by His Honour Justice Heerey that the valuer was negligent and that his valuation was misleading and deceptive.
The valuers disclaimer was held not to be effective to prevent liability to the purchasers who paid a grossly inflated price for the property as a result of the valuer’s negligence and misleading and deceptive conduct.
The damages were assessed in favour of Ware & Partners’ clients APF. Properties and exceeded $1,000,000.00.
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