Maria signed the CREC Contract to Buy and Sell Real Estate to purchase a Denver home for $520,000 with $15,000 in earnest money. After all contingencies were satisfied, Maria refused to close without justification. The seller, frustrated, wants to force Maria to complete the purchase. Which remedy should the seller pursue?
Correct Answer
D) File for specific performance to compel Maria to close
When a buyer breaches after all contingencies are satisfied, the seller in Colorado may pursue specific performance — a court order compelling the buyer to complete the purchase. This is an available remedy under the CREC Contract to Buy and Sell Real Estate when the seller wants to force the transaction to close rather than simply retain earnest money.
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