Can specific performance be ordered on a BUYER in a real estate transaction?
Question by curiouspbp: Can specific performance be ordered on a BUYER in a real estate transaction?
Specific performance is often ordered on a seller who refuses to sell his/her property when under contract.
However, what if the buyer under contract refuses to PURCHASE the property, and there are no terms in the contract that allow him to do so, even if he/she can’t find financing? Can the buyer be sued for, and will a court order, specific performance?
FYI – I am acting as the SELLER, and I have a Lease Purchase contract with the soon-to-be BUYER. I purchased the property specifically so this buyer would be able to purchase it from me after a year. I’m concerned as to my legal recourse if he/she backs out.
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