The plaintiff vendor brought a motion for summary judgment against the defendant purchasers for failing to close a real estate transaction.
The defendants failed to obtain mortgage financing after the third-party bank's appraisal flagged potential issues with the property.
The defendants did not file responding materials.
The court granted summary judgment, finding the defendants breached the unconditional agreement of purchase and sale.
The court awarded damages to the plaintiff and dismissed the defendants' counterclaim and third-party claims.
Applying recent appellate authority, the court ordered the defendants' deposit to be credited towards the damages awarded.