At Ocotillo Realty Group in Queen Creek, a seller breaches after the buyer fully performed and the buyer wants the property rather than just money. Which statement should the broker communicate?
Correct Answer
A) specific performance may be an available remedy in an appropriate Arizona real estate contract dispute
Under Arizona contract remedies; current AAR contract remedy framework, specific performance may be an available remedy in an appropriate Arizona real estate contract dispute.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Contingencies are conditions written into a real estate contract that must be met before the transaction can close. If a contingency is not satisfied, the buyer can typically cancel the contract without penalty.
Contract termination occurs when a contract is ended or discharged, releasing both parties from their obligations. A contract can be terminated through performance, mutual agreement, operation of law, or breach.
A counteroffer is a response to an original offer that changes one or more terms of the offer, effectively rejecting the original offer and creating a new offer. The party who makes the counteroffer becomes the new offeror.
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