Litvak v. Smith

JACKSON, Judge.

On 3 May 2004, Eric A. Litvak and Castle Ventures, LLC (“plaintiffs”) and Katie C. Smith (“defendant”) executed a contract pursuant to which plaintiffs agreed to purchase from defendant 5.12 acres of vacant land in North Topsail Beach, North Carolina, for a purchase price of $1,500,000.00. The contract provided that closing of the sale and transfer of title would occur on or before sixty days after full execution of the contract. The contract also contained an addendum that originally stated that the sale was subject to plaintiffs’ being able to rezone the property to…