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Remedies Keyed to Kovacic-Fleischer, 8th
Curran v. Barefoot
Citation:
183 N.C. App. 331, 645 S.E.2d 187 (2007)Facts
On November 19, 2003, plaintiffs Thomas and Josephine Curran entered into a contract to purchase defendant Robert Barefoot’s lake house on Lake Tillery for $550,000. The contract included an addendum listing extensive personal property to be conveyed with the house, including all furniture, linens, window treatments, appliances, dishes, and all watercraft and accessories, with only three specific exceptions. The parties negotiated a $3,000 reduction in broker commissions representing six percent of the $50,000 value defendant attributed to the personal property. In early December, plaintiffs arranged for a home inspection and appraisal and began the mortgage approval process. On December 23, 2003, defendant’s attorney sent a letter to defendant’s real estate agent stating the contract was terminated and defendant would not appear at closing. Plaintiffs learned of this repudiation on December 29, 2003. Plaintiffs had obtained a loan commitment letter with contingencies from Washington Mutual on December 16, 2003, and their mortgage broker testified that another lender, Alterna Mortgage, was prepared to close in early January 2004. The contract did not contain a time-is-of-the-essence clause. Plaintiffs filed suit seeking specific performance on January 29, 2004.
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