Xue v Karimbla Properties (No.45) Pty Ltd

The plaintiffs, Xue, initiated legal proceedings against Karimbla Properties (No.45) Pty Ltd, asserting that they were misled by the sales agent regarding the availability of vendor finance at a market interest rate prior to the settlement of their contract to purchase an off-the-plan apartment. The contract had been executed and exchanged, and a deposit had been paid, but the contract had not been completed. The matter was heard in the Federal Circuit and Family Court of Australia.

The primary legal issue before the court was whether the plaintiffs had been misled by the sales agent in relation to the availability of vendor finance at a market interest rate. The court examined the evidence presented by the plaintiffs to determine if the alleged misleading or deceptive conduct occurred. The plaintiffs argued that the sales agent had represented that vendor finance would be available at a market interest rate prior to settlement, but this was not the case.

The court concluded that the plaintiffs had not provided sufficient evidence to establish that any misleading or deceptive conduct had occurred. The court found that there was no evidence to support the plaintiffs' claim that the sales agent made or conveyed any representations regarding the availability of vendor finance at a market interest rate prior to settlement. As a result, the plaintiffs' claim under section 18 of the Australian Consumer Law or section 12DA of the Australian Securities and Investments Commission Act 2001 (Cth) was dismissed.

The Federal Circuit and Family Court of Australia ordered that the plaintiffs' claim be dismissed with costs. The court determined that the plaintiffs had failed to prove their case, and as a result, the defendants were not liable for any misleading or deceptive conduct.