Legal Question in Real Estate Law in New Jersey

Re: Breach of Real Estate Contract as a Seller

As a matter of contract law, a breaching party is liable for damages sufficient to put the non-breaching party in the same position that they would have been had the contract not been breached. Under special circumstances, a court might order specific performance, i.e., the sale of the property. That is unusual.

Most real property contracts provide for damages to the seller (retention of the deposit) and, sometimes, damages to the buyer. Frequently, the contract damages are open-ended in the sense that they do not preclude additional damages. You will need to check your contract to tell.

It sounds as if you are already represented by counsel. He or she would be your best source of information on the specifics of your contract.