A buyer who breaches a real estate contract may be liable for damages equivalent to the difference between the contract price and the fair market value of the property at the time of breach.
False
True
This statement is correct because under basic contract principles, the non-breaching party in a real estate transaction is entitled to damages equivalent to the loss caused by the breach. In the case of a buyer's breach, the seller's damages typically include the difference between the contract price and the property's fair market value at the time of breach. These damages aim to put the non-breaching party in the position they would have been in had the breach not occurred. Other remedies (such as specific performance or forfeiture of earnest money as liquidated damages) may also apply if they are provided for in the contract.
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