What does "specific performance" compel a party to do in a real estate contract?

Specific performance is a legal remedy used in real estate contracts that compels a party to fulfill the exact terms of the contract as originally agreed upon. This remedy is often invoked in situations where monetary damages would be inadequate to make the injured party whole. In real estate, this is particularly relevant because each piece of property is unique. Therefore, if one party fails to complete the sale or another obligation outlined in the contract, the other party can seek specific performance to ensure that the terms are met, rather than simply receiving damages.

In contrast, the other options do not capture the essence of specific performance. Monetary damages are a different type of remedy and do not involve the enforcement of the contract's terms. Negotiating a new agreement would imply that the parties have not reached satisfaction with the original terms, which is contrary to the aim of specific performance. Lastly, voiding the original contract negates the agreement altogether, rather than enforcing its execution. Therefore, the correct understanding of specific performance is that it ensures compliance with the contract, compelling the involved party to execute their obligations as stipulated.