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Business, 06.02.2020 02:46 kaylaamberd

San bernardino seller craig watkins has just signed a contract to sell his home of 13 years to buyer ivedale bosch, who has recently moved to california from montana. the contract has met all the necessary requirements, and all inspections and other mandates have gone along as expected and as agreed to until one week before closing, when craig decides to back out. however, he understands that he could face legal action by ivy; so he offers to sell her another house he owns and has rented out for the past few years, in lieu of the san bernardino one promised. the second home is worth $15,000 more than the originally contracted one, and has an extra bedroom. however, ivy isn’t interested, because she wants to be close to her elderly mother, who lives in a san bernardino retirement complex. craig refuses to complete the sale on the original home. which of the following statements is true of this situation? 1. ivy may sue craig for specific performance, because no two properties are exactly the same and he hasn’t fulfilled his end of the contractual agreement.2. craig has the right to refuse to sell to ivy within up to 3 business days prior to the closing date for the sale. no penalties are to be paid from either party to the other.3. craig has the right to refuse to sell to ivy within up to 3 business days prior to the closing date for the sale. any charges incurred by ivy in the contractual process must be refunded to her by craig within 24 hours after the original time set for closing.4. craig cannot force ivy to accept his offer of the other property. however, under california civil code, if the seller in this type of situation (craig) offers the prospective buyer a home of equal or greater value, with an equal or greater number of bedrooms and square footage, the buyer may not bring legal action against that seller.

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