A court granted sellers’ motion for summary judgment for release of the defendants’ “down-payment in this unconsummated condominium sale.”

The court found that the sellers had “properly declared that time was of the essence to close on the condominium apartment on July 8, 2020, and defendants failed to appear and proceed on the duly scheduled closing date.”  Based on the purchasers’ failure to close, pursuant to the terms of the contract, the court held that the sellers were entitled to retain the down-payment as liquidated damages.

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