In this video we review:
Monetary Damages
Specific Performance
Buyer's Use of Specific Performance
Seller's Use of Specific Performance
Elements that must be present for specific performance to be available as a remedy, including: contract, damages inadequate, mutuality of obligation, and judge's discretion.

A real estate purchase agreement is a binding contract. The parties are obligated to take the agreedupon actions specified by the terms and conditions of the contract. But if either party fails to perform their part of the contract for any reason not permitted by the contract terms, the other party can obtain certain kinds of relief essentially, payback for the other party not following through. Legally, these are called remedies. There are two primary types of relief that courts will award: monetary damages and specific performance.


Subscribe to our channel to get notified of new videos!

Serious about passing your real estate exam? Sign up with PrepAgent to get more videos, thousands of interactive exam questions with explanations, 5x a week live webinars, and so much more! Use this link to get 25% off:
https://www.prepagent.com/signup?cod...

Follow us on social media:
  / prepagent  
  / prep_agent  
  / prep_agent  

Join our free private Facebook group to get help from others taking the exam:
  / prepagent