The plaintiffs brought a motion for summary judgment after the defendants failed to close on an agreement of purchase and sale for a residential property.
The defendants argued that the plaintiffs failed to mitigate their damages by rejecting an offer to reduce the purchase price by $50,000 and subsequently selling the property to a third party for $298,000 less than the original contract price.
The court found that the plaintiffs acted reasonably in their mitigation efforts and were not obligated to accept a new bargain from the breaching purchasers.
Summary judgment was granted, awarding the plaintiffs $368,585.95 in damages, representing the difference in sale price and carrying costs, less the deposit.
