Experience reveals that disputes over real estate differ from other legal disputes in a number of ways. One such difference is a party’s ability to seek the remedy of specific performance.
A request for specific performance is a request that a court force the opposing party to actually perform pursuant to the terms of the contact at issue – rather than award monetary damages for a breach of the real estate contract. In other words, through a successful request for specific performance, a buyer can force a reluctant seller to live up to the terms of the purchase contract.
The law allows suits for specific performance because the law considers real estate to be unique. To this end, it is presumed that monetary damages are not enough to compensate an aggrieved party for a breach of the real estate contract. As monetary damages may not be enough, a court may actually force an owner to sell the property pursuant to the terms of the real estate contract.
When a purchase and sale deal starts to unravel, seek legal advice. This is particularly true if a seller is wrongfully refusing to sell you property. Such wrongful refusal may entitle you to monetary damages or specific performance.
For more information, feel free to contact me at 602-687-6907 or PMacQueen@mackazlaw.com.