asked 91.8k views
4 votes
In a transaction that is subject to a licensee buyout agreement, if the buyer defaults the seller may:

asked
User Regi
by
8.3k points

1 Answer

2 votes

Answer:

Sue the buyer for specific performance

Step-by-step explanation:

In a licensee buyout addendum to a contract to buy and sell real estate, "Liquidated losses" (buyer lose earnest money) is omitted.

If the buyer / broker gets cold feet, the cure is Specific Performance meaning the seller may sue for damages and compel the agent to purchase them.

answered
User Singingwolfboy
by
7.3k points
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