Contracts
A New Hampshire buyer who performs all required steps and is ready, willing, and able to close but the seller refuses to convey title may sue for:
ARescission only
BSpecific performance and/or damages✓ Correct
CCriminal charges against the seller
DA refund of the earnest money only
Explanation
When a seller wrongfully refuses to convey, the buyer may seek specific performance (a court order compelling the seller to complete the sale) because real property is considered unique. The buyer may alternatively sue for damages.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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