The sales contract between buyer Milton and seller Tom has been signed. Whose responsibility is it to keep track of all of the buyer contingency deadlines

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22-07-2022
Business

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The sales contract between buyer Milton and seller Tom has been signed. Whose responsibility is it to keep track of all of the buyer contingency deadlines

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tushargupta0691 tushargupta0691 · Answer 1 · 2022-08-04T20:28:30+02:00

The sales contract between buyer Milton and seller Tom has been signed. Milton and his agent's responsibility is to keep track of all of the buyer contingency deadlines.

If there is a breach of the majority of contracts, we seek to award "expectation" damages.

This indicates that we want to grant the harmed party damages that would put them in the same situation as if the contract had been successfully carried out.
However, in real estate contract situations, this is typically not feasible.

Money damages are not regarded as sufficient if the seller breaches, that is if the seller refuses to close.

The buyer can only genuinely get the "advantage of his bargain" if the buyer is granted the property because each parcel of real estate is unique due to its location.

Hence, the answer is Milton and his agent.

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