New Jersey Real Estate Practice Exam Practice Question
If a seller defaults in performance of a contract, any of the following actions would be likely to help the buyer recover any losses EXCEPT
Correct Answer: B
Rationale: Option A, suing the seller for specific performance, is a viable action as it compels the seller to fulfill their contractual obligations. Option C, canceling the contract and recovering the earnest money, allows the buyer to mitigate losses by reclaiming funds already invested. Option D, bringing an action for compensatory damages, seeks financial restitution for any losses incurred due to the seller's default.
In contrast, filing a complaint with the Real Estate Commission (Option B) does not directly address the buyer's losses or recover damages; it is more about regulatory oversight than compensating the buyer for the seller's failure to perform.
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