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Expert testimony was presented concerning the property's value on May 9, 1976 and on October 23, 1976. Based on this testimony, the court found that the property had not appreciated in value between these two dates. Accordingly, no loss of bargain damages were found or awarded. The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange (“IDX”) program of METROLIST, INC., DBA RECOLORADO® Real estate listings held by brokers other than Coldwell Banker Realty are marked with the IDX Logo.
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This information is being provided for the consumers’ personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified. This case has been litigated twice in the trial court and this is the second appeal. On May 9, 1976, the respondents entered into a contract sale agreement with the petitioner to have a Medema home built for them. The contract provided, inter alia, that if the builders failed to complete construction within 120 days, plus a 30-day grace period, the builder would pay the home purchasers liquidated damages of $25 per day until completion.
Delivery of title and possession here was never accomplished because of an assortment of reasons, several of which must be attributed to the home purchasers. The information contained herein including but not limited to all text, photographs, digital images, virtual tours, may be seeded and monitored for protection and tracking. Redfin is redefining real estate and the home buying process in Lynn with industry-leading technology, full-service agents, and lower fees that provide a better value for Redfin buyers and sellers. Buying a home is a big decision and can be very exciting when looking at houses for sale. Our real estate agents will guide you through this process with Confidence.
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II. LIQUIDATED DAMAGESTrial court II found the home purchasers' liquidated damages claim inapplicable since they had availed themselves of their legal and equitable rights to consequential damages. By late July, 1976, the home purchasers became concerned that the Medema home would not be completed on time. They wrote to the builder requesting a construction schedule, but received no response. Toward the end of August, the home purchasers began looking for a home to lease in the event the Medema home would not be completed by October 10, 1976, which was the date they had to vacate their current home.
Both of these claims for damages were rejected by the trial court in its judgment. We find that the trial court's judgment was correct with respect to these claims, and we reverse the judgment of the court of appeals. The court of appeals in appeal II reversed this finding and applied a different formula for determining such damages. It measured damages by comparing the contract price with the property's fair market value at the time specific performance became unavailable as a remedy, namely, March 17, 1978, the date the builder sold the Medema home to a third party. The original contract price of the Medema home was $68,824, and the ultimate sale price in March 1978 was $80,829. The court of appeals, therefore, set the loss of bargain damages at $12,005 plus interest.
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The information contained in this publication is subject to change without notice. NOTES In the first appeal, the court of appeals found this date to be reasonable under the doctrine of "performance within a reasonable time." Bursack v. Moore, 165 Colo. 414, 439 P.2d 993 . This commencement date is not a contested issue here. We, accordingly, reverse the judgment of the court of appeals on the two issues involved in this review.
With our Proven Strategies, our Realtors will help you find and secure the Perfect Home for you and your family. In March, 1977, the home purchasers sued the builder seeking specific performance and damages. Homes for sale in Lynn Knoll, Aurora, CO have a median listing home price of $475,000.
It was a clear condition of the contractual relationship that they were to apply for and secure financing for the Medema home. However, even though the builder estimated the house would be delivered by September 10, 1976, and that trial court I found the delivery date to be October 23, 1976, respondents transferred the loan application on the Medema home to a second home in late August. The builder learned of this transfer by September and became concerned about the home purchasers' intentions to comply with the contract.
There are 4095 active homes for sale in Lynn Knoll, Aurora, CO. Some of the hottest neighborhoods near Lynn Knoll, Aurora, CO are Del Mar Parkway, Expo Park, Northwest Aurora, Aurora Hills, City Center North. You may also be interested in single family homes and condo/townhomes for sale in popular zip codes like 80011, 80041, or three bedroom homes for sale in neighboring cities, such as Denver, Aurora, Montbello, Littleton, Thornton. Coldwell Banker Realty and Guaranteed Rate Affinity, LLC share common ownership and because of this relationship the brokerage may receive a financial or other benefit. You are not required to use Guaranteed Rate Affinity, LLC as a condition of purchase or sale of any real estate. Operating in the state of New York as GR Affinity, LLC in lieu of the legal name Guaranteed Rate Affinity, LLC.
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