Question

buyer most likely sue for specific performance? select one: a. if the seller did not inform the buyer that the property being purchased is a servient estate (easement placed upon it). b. if the seller defaulted on the contract before closing c. if the broker lied about the location of the schools d. if the salesperson misquoted the size of the lot jump to...

Answer 1

buyer most likely sue for specific performance if the seller defaulted on the contract before closing

A Sale and Purchase Agreement (SPA) is what, exactly?

A Sale and Purchase Agreement (SPA) is a contractual agreement describing the terms on which the buyer and seller of a property have come to an understanding (e.g., a corporation). In any sale transaction, it serves as the primary legal document. Essentially, it outlines the agreed-upon terms of the transaction, offers several significant safeguards to all parties involved, and establishes the legal framework needed to finalize the sale. Therefore, the SPA is extremely important to both sellers and buyers.

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