A seller in New York breaches a contract for a $750,000 home. The buyer must purchase a comparable property for $785,000 and incurs $3,200 in additional costs (inspection, appraisal, attorney fees). The buyer also loses $1,800 in non-refundable application fees from their original lender. What are the buyer's total recoverable damages?
Correct Answer
B) $40,000
Total damages = Price difference ($785,000 - $750,000 = $35,000) + Incidental damages ($3,200) + Lost application fees ($1,800) = $40,000. All these costs are recoverable as they resulted from the seller's breach.
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