Sandra agreed to sell her Fairfax County home to David for $575,000. After all contingencies were removed, Sandra received a higher offer and refused to convey the property. David wants to force Sandra to sell him the home at the agreed price. Which remedy should David pursue in Virginia court?
Correct Answer
C) Specific performance, to compel Sandra to complete the sale
Because real property is legally considered unique, Virginia courts may grant specific performance as an equitable remedy, ordering Sandra to actually convey the property to David at the agreed price. Since David wants the home itself — not just money — specific performance is the appropriate remedy. This is a distinctly real-estate-specific application of equity in Virginia.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
Earnest money is a deposit made by the buyer at the time of the offer or shortly after to demonstrate good faith and serious intent to purchase the property. It is also called a good faith deposit.
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