The location, structures, flora, fauna, natural resources, views, condition, and so forth are all different for any piece of real estate. Specific performance typically arises in a real estate transaction. Median listing: $950K. Thus, specific performance orders are usually for unique items such as real estate, antiques, heirlooms and artworks. The legislation, which impacts many professions including barbers, nurses, bus drivers, respiratory therapists, security guards, teacher assistants and, yes, real estate licensees, was sponsored by State Specific Real Estate Exam Effective April 01, 2020 The Arizona Real Estate Out-of-State License Recognition Salesperson Examination is a state specific examination consisting of one hundred and ten (110) questions. Monthly Licensee StatisticsThis document reflects monthly license statistics for the month of November 2020.Original License Trends by MonthThe graphs below reflect the license trends by month for original Brokers and Salespersons.BrokerSalespersonRenewal License Trends by MonthThe graphs below reflect the license trends by month for renewing Brokers and And if you desire to buy a residence, we totally understand why you need to obtain an outstanding purchaser realtor to get the best value obtainable that you can manage financially in the most unique block. Learn arizona real estate az specific with free interactive flashcards. The broker exam consists of 180 national and state-specific questions. Since there is no other piece of property or house exactly like Beth's, Rina may be entitled to specific performance on the contract. Overview. Specific performance requires a party to perform under the contract. Welcome to our community's top resource for real estate services. Choose from 500 different sets of arizona real estate az specific flashcards on Quizlet. Median listing: $440.9K. Whether you are buying a home or selling one, learn what exceptional service truly means. The land that is subject to the sale of real estate contract is unique – there is only that one plot of land on the earth! Specific Performance as Remedy | Stimmel Law ... Introduction: Specific Performance and 'Replevin' Specific performance is not the only remedy. Beth would be compelled to go through with the sale. It is an available remedy since real estate is considered to be unique and one of a kind, so courts often grant this remedy on the basis that monetary damages are not sufficient to compensate a buyer for suffering the loss of the property. The US luxury real estate market offers a great choice of properties: on our website, we have more than 30,000 open homes of different types, and in diverse locations. You can also sue for specific performance – in other words, force the buyer to settle. Specific performance is often used in real estate transactions because every piece of land has unique characteristics, such as location, pre-existing structures, natural resources, and others. Can Home Purchaser or Seller Use "Specific Performance" to Enforce Real Estate Contract? The subject matter of the contract must be unique, or an action for damages would be the proper remedy. The exam is taken by computer, though arrangements can … a statement that you are seeking specific performance of your real estate contract 2. With a specific performance lawsuit, the judge orders the reluctant seller or buyer to complete the contract, that is, to close the sale. With Point2, you can easily browse through Arizona single family homes for sale, townhouses, condos and commercial properties, and quickly get a general perspective on the real estate prices. Actions for specific performance are usually allowed with regard to a contract involving the sale of particular real estate; and a contract for sale of a particular business. If You’re a Seller Defaulting on a Real Estate Contract. The company's filing status is listed as Active and its File Number is 654986. The court will focus on the written contract and whether it is sufficiently definite, as is required for specific performance. Specific performance is an action to compel a party who breached a contract to perform the contract as promised. Real estate is considered to be unique. This option is rarely used and even more rarely granted. No matter what stage of the real estate process you find yourself in, you'll be able to reach your goals here. But, that isn’t the limit of the buyer’s liability. Specific Performance Elements Examples. 600 Homes for Sale; 401 Homes for Rent; View All Homes in 85255; 85251. Request information in “discovery.” A breach of contract dispute is probably pretty straightforward. Real Estate Agent Find The Best Real Estate Agent Tempe Some clients convey sell my home quick for the maximum transaction price. Arizona Real Estate License Test Prep: AZ Landlord-Tenant Act, Property management & HOAs To pass, you must score at least 75%. Arizona is now the first state to allow for broad recognition of out-of-state licenses with Governor Doug Ducey signing HB 2569: “Occupational Licensing; Reciprocity” into law on April 10, 2019. As the seller, you can keep the buyer’s earnest money. Land and homes are each unique, therefore, real estate is often at the center of specific performance elements cases. _____ [Allege additional basis for equitable relief, such as: Further, plaintiff has already sold plaintiff's home and requires the real property that is the subject of this complaint as a residence and as a source of income. 2d 699, 704 (Fla. 5th DCA 2006). In real estate, specific performance lawsuits are used to compel buyers or sellers to follow through with the deal. Specific Performance 5/26/2015: Specific Performance: Why it Works for Buyers Against Sellers and Not Sellers Versus Buyers. real property, and pursuant to Civil Code section 3387 money damages are presumed inadequate for its breach. These questions are being tested by Pearson VUE and don't count against a passing grade. The law considers real property to be unique and therefore a contract to purchase real property can be specifically enforced. Learn why sellers should generally use their bargaining clout to get things other than a specific performance remedy versus a buyer. Specific performance is not a matter of right, but is usually a matter for the court's discretion, and also depends on the law in your state. And pursuant to Civil Code section 3387 money damages are an insufficient remedy for the maximum transaction price for performance. And is located at 16213 E. 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