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Specific Performance
What happens when one party to a purchase agreement fails to honor their obligations under the contract? In real estate, the aggrieved party can go to court and seek a court award for specific performance, which compels the offending party to perform under the contract. Specific performance is a specialized legal remedy used and awarded by courts when monetary damages will not adequately compensate the aggrieved party. The thought is that real estate, by its very nature, is unique, and monetary damages are very difficult to assess. Instead of money, the aggrieved party wants the actual performance of the contract. Therefore, the court’s only remedy is to compel compliance under the contract.
For a court to award specific performance, several legal elements must be met. They are:
First, there must be a valid and binding contract. Without this, there is no breach leading to a need for a remedy.
Second, specific performance is only available when monetary damages would be inadequate compensation. When specific performance is ordered, monetary damages are not usually ordered as both remedies are not usually entitled together.
Third, mutuality of an obligation is required. This means that both parties have undertaken duties to one another as part of the contract.
Finally, the moving party must have substantially performed their part of the contract, and that they can continue to perform their duties.
Real estate transactions alone can be very stressful. When another party stops upholding their end of the bargain, you only worry more. Don’t let this get the best of you, stay calm, and ask an experienced real estate attorney for the best way to move forward and see if specific performance may be an option for you. Soble law has a team of dedicated real estate attorneys who will advocate for your legal and real estate rights.
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Whether it‘s residential or commerical real estate, our team can offer you assistance in understanding remedies available to you if the other party involved in your transaction has breached your contract. We can also provide representation to those who have been accused of breaching a contract and causing damages to occur. Contact us today!
Can I sue the seller for not showing up and then delaying the closing by a week?
No. Based upon your statement, if the seller is intending to close, there will be no reason to escalate this into a lawsuit…yet. If everything is still in place, such as your loan and rate approval, then the one week delay is sufficient for a closing. Real estate sales in general can be frustrating and delays are part of the process. So based upon your current situation, it does not appear to be an ‘actionable’ legal issue. However, if the seller continues to delay beyond an additional week as represented, you may want to then seek counsel to compel the sale.
Can I sue the buyer for money that I spent on a deposits when they ended up withdrawing the purchase agreement?
That will depend on how the buyer withdrew. If the provisions of the purchase offer had contingencies to the sale, and the buyer withdrew in accordance with the contract, then the answer is “no.” However, expenses incurred when performing obligations on a contract are recoverable if there is a breach by the other party. When it comes to specific performance however, there are no monetary damages awarded. The court is compelling the sale of the home. That is the only remedy. So if you are looking for monetary damages, the lawsuit takes a different format and requests monetary damages only, such as your lost deposits, loan application and appraisal fees, and other reasonably related items.
I learned this week that the seller's husband is not mentally competent to sign the closing papers, so their realtor is going to have his son obtain a power of attorney to close. Does this open me up to issues?
If the seller is not competent to sign closing documents, he certainly cannot make his son his power of attorney at this point. Instead, the family needs to file for a conservatorship and have the court appoint the son as a conservator. A conservator is legally authorized to manage an incapacitated person’s financial affairs. This would include the sale or mortgage of a home. While this may delay the closing, doing anything less than this may open the transaction up to legal challenges at a later date.
Articles About Specific Performance
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Late Payment on Land Contract
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I am very happy I contacted David. I felt at ease as soon as I contacted him about my situation. The seller did not want to return my deposit after after a failed inspection and many other things. David got right on it and I got my full deposit back. 🙂 David was very responsive (he always replied to my emails within a few hours or even minutes). I would recommend him to anyone. Thanks again David.
Steve G, Lathrup Village, MI
I came to David Soble with an honest question; "Do I have a case?" Not only did he speak with me personally, he took time to quickly review the details of my situation. No other attorney would talk with us without a retainer. Even though he determined we did not have a case, he took the time to show us he cared! Thank you David.
Jane Blackmon
David and his team are absolutely top notch and provide A1 service. I would recommend them to anyone in need. Thank you!
Robert Syfert, Tampa, FL
Mr. Soble is a true professional, who is very dedicated to his clients. I've been working with him for a couple of years now, and it has been a pleasure. He is very attentive to his clients' needs, and his knowledge of his field of expertise is impressive. In today's day and age it's frustrating to have to wait days for a response. That's never the case with Mr. Soble. I've always gotten a reply very quickly.
S. Volgyi (Emes Home Inspections)
Oak Park, MI
David Soble Law office was fantastic assisting me filing an action to quiet title. The staff was professional, and Mr. Soble made a difficult situation into a smooth process. I’m so very happy I was referred to Soble Law Office, I look forward to referring others.
Melinda Jones, Southfield, MI
The Soble Law team made my tenant eviction a easy process. Very informative, and gave the best direction on how to deal with my issue. I look forward to working with Soble Law with all my real estate issues.
CPR Rentals and Investments LLC
Detroit, MI
Soble Law firm and his associate Aaron are very knowledgeable of real estate law. They worked on our behalf and we won our land-contract case. We're very happy we hired this firm and were able to get a successful outcome.
Carla Lewis-Moore, Westland, MI
David helped me with a challenging legal matter. The results were favorable and the service was great. He’s always honest and direct. If you have a complex real estate or contractual matter, consider David.
Pete Negohosian, Troy, MI
I needed an attorney and found Soble Law (proven resource) online. I took that leap of faith and called. It was a good decision! David responded quickly, was very professional, easy to talk to, and handled my mortgage issue . David told me what to expect and even did a follow up to see if I had any more questions. There is no doubt that I would use David Soble law again, and would refer others as well.
Deborah Watkins
I was freakin' out and you stayed calm and bold and I am impressed. I really didn't think they would go for the $$$$. I feel so damn good right now! Thank you for doing what you do!"
H.A., Brighton, MI
"l was a client of Mr. Soble and he was very pleasant to work with and he took my case right away. He took time to answer all the questions and concerns that l had. When l called him, he got back to me that same day. We settled on an offer, and then received our check in a timely matter. l recommend the Soble Law firm for all your real estate needs because they take care of business."
Lisa S., Southgate, MI
David, I anguished for months over my problem. Had I not called you, I don't think I would have gotten it resolved. In less than 2 weeks you negotiated a fair settlement for my business. I'm so happy and my employees are happy. Thank you!
Rhoda St. Luce, Southfield, MI
The balance for one of my credit cards was over $14,000. In less than one week David and his staff were able to negotiate a new balance for less than $4000. We saved over $10,000. This was for just on one of our cards. I have to admit that my husband and I were skeptical at first, but they delivered. I now understand why the meaning behind the name. David and his staff are truly a Proven Resource!
J. James
"Attorney David Soble lives up to his firm's namesake, "Proven Resource." I appreciate knowing that when my clients need a diligent and responsive real estate or contracts attorney, I can easily make the referral to David, David is well worth having on your side."
Dino Lembesis, S. Lyon, MI
-Financial Adviser, Brighton, MI
I am very happy I contacted David. I felt at ease as soon as I contacted him about my situation. The seller did not want to return my deposit after after a failed inspection and many other things. David got right on it and I got my full deposit back. 🙂 David was very responsive (he always replied to my emails within a few hours or even minutes). I would recommend him to anyone. Thanks again David.
Steve G, Lathrup Village, MI
I came to David Soble with an honest question; "Do I have a case?" Not only did he speak with me personally, he took time to quickly review the details of my situation. No other attorney would talk with us without a retainer. Even though he determined we did not have a case, he took the time to show us he cared! Thank you David.
Jane Blackmon
David and his team are absolutely top notch and provide A1 service. I would recommend them to anyone in need. Thank you!
Robert Syfert, Tampa, FL
Mr. Soble is a true professional, who is very dedicated to his clients. I've been working with him for a couple of years now, and it has been a pleasure. He is very attentive to his clients' needs, and his knowledge of his field of expertise is impressive. In today's day and age it's frustrating to have to wait days for a response. That's never the case with Mr. Soble. I've always gotten a reply very quickly.
S. Volgyi (Emes Home Inspections)
Oak Park, MI
David Soble Law office was fantastic assisting me filing an action to quiet title. The staff was professional, and Mr. Soble made a difficult situation into a smooth process. I’m so very happy I was referred to Soble Law Office, I look forward to referring others.
Melinda Jones, Southfield, MI
The Soble Law team made my tenant eviction a easy process. Very informative, and gave the best direction on how to deal with my issue. I look forward to working with Soble Law with all my real estate issues.
CPR Rentals and Investments LLC
Detroit, MI
Soble Law firm and his associate Aaron are very knowledgeable of real estate law. They worked on our behalf and we won our land-contract case. We're very happy we hired this firm and were able to get a successful outcome.
Carla Lewis-Moore, Westland, MI
David helped me with a challenging legal matter. The results were favorable and the service was great. He’s always honest and direct. If you have a complex real estate or contractual matter, consider David.
Pete Negohosian, Troy, MI
I needed an attorney and found Soble Law (proven resource) online. I took that leap of faith and called. It was a good decision! David responded quickly, was very professional, easy to talk to, and handled my mortgage issue . David told me what to expect and even did a follow up to see if I had any more questions. There is no doubt that I would use David Soble law again, and would refer others as well.
Deborah Watkins
I was freakin' out and you stayed calm and bold and I am impressed. I really didn't think they would go for the $$$$. I feel so damn good right now! Thank you for doing what you do!"
H.A., Brighton, MI
"l was a client of Mr. Soble and he was very pleasant to work with and he took my case right away. He took time to answer all the questions and concerns that l had. When l called him, he got back to me that same day. We settled on an offer, and then received our check in a timely matter. l recommend the Soble Law firm for all your real estate needs because they take care of business."
Lisa S., Southgate, MI
David, I anguished for months over my problem. Had I not called you, I don't think I would have gotten it resolved. In less than 2 weeks you negotiated a fair settlement for my business. I'm so happy and my employees are happy. Thank you!
Rhoda St. Luce, Southfield, MI
The balance for one of my credit cards was over $14,000. In less than one week David and his staff were able to negotiate a new balance for less than $4000. We saved over $10,000. This was for just on one of our cards. I have to admit that my husband and I were skeptical at first, but they delivered. I now understand why the meaning behind the name. David and his staff are truly a Proven Resource!
J. James
"Attorney David Soble lives up to his firm's namesake, "Proven Resource." I appreciate knowing that when my clients need a diligent and responsive real estate or contracts attorney, I can easily make the referral to David, David is well worth having on your side."
Dino Lembesis, S. Lyon, MI
-Financial Adviser, Brighton, MI
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Guarantor vs. Co-signer
Do banks require that a co-signer be part owner of the secured property as well? Speaker 1: (00:03) All right. Okay. Moving on to our next question. It must be from anonymous because we don't have a writer. So we'll just say anonymous asks. Do banks require that a...
Late Payment on Land Contract
Do I automatically lose my rights to a home that I purchased on a land contract if I have not made payments over 90 days? Speaker 1: (00:08) Okay. So this question comes from Thomas in Adrian, Michigan. And Thomas says that years ago, in 2004, I bought a business with...
Contract Violations
What happens if a builder uses my deposit and loan money without doing the work as agreed?Speaker 1: (00:03) This question comes to us from one of your fans, David, who says, I have seen many of your videos. So they must be quite excited to ask their own question...