What action If Buyer / Seller Breaches Sale Agreement or Fail to honor the terms of Sale Agreement ?

Описание к видео What action If Buyer / Seller Breaches Sale Agreement or Fail to honor the terms of Sale Agreement ?

In real eatate transactions, An agreement to sell is a contract between the buyer and the seller of a property. Like any other contract, this deal, too, can go awry. This is why it is important for both the buyer and the seller to give due consideration while making or accepting offers and undersatnd the terms of the Agreement thoroughly before signing it. You must know your rights in case the other party fails to honour the agreement.

The Specific Performance of the Contract
In real estate terms, specific performance means when either the buyer or the seller wants to complete the sale under the agreed terms and conditions in the agreement to sell. A buyer or seller who wants to compel the recalcitrant party to honour the agreement under already agreed-upon terms can plead injunction by seeking a court order to complete the sale. However, the court has the sole discretion to order a real estate sale through specific performance.

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