When a buyer and seller enter into a contract
for the sale of real property there are times when one of the parties
fails to perform as agreed. In such cases, the performing party may
file suit against the defaulting party for monetary damages or may
seek a court order for specific performance. Such an order would force
the defaulting party to specifically perform the contract.
remedy of specific performance recognizes the fact that real estate is
unique. No two parcels of real estate are the same because the
locations cannot be the same. Thus, the courts generally allow parties
to seek an order for performance of the contract when the subject is
the transfer of real estate.
The doctrine of specific
performance is based upon the fact that money damages is inadequate
compensation and that only performance can compensate for the breach
of some contracts.
The real estate attorneys with Michael T.
Chulak & Associates represent buyers and sellers of real estate, as
well as real estate brokers and agents in all types of disputes
involving real property.
Call us for a free initial consultation.