Home Buying in Colorado>Question Details

Coloradobuyer, Home Buyer in Colorado

Colorado: I signed an Exclusive Right to Buy Contract with a broker. Does the contract apply to properties the broker did NOT show me?

Asked by Coloradobuyer, Colorado Tue May 1, 2012

I signed the contract when my agent gave it to me in a stack of papers when I was putting in an offer on a house. The house deal fell through and we never went under contract.
Recently, I saw a different property with a different agent. Does the contract (with the old agent) apply to properties that the previous agent did NOT show me and did NOT bring to my attention?

I actually tried to contact the old agent to do the showing but got no response for 3 days, and then contacted a different agent to see the listing (I found the listing myself). The market here is hot right now and if you don't get in to see homes right away they're often already under contract by the time you get around to it, so I felt like I was pressed for time....

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Answers

4
Here's the other piece - I would send a note to the first agent telling him that you feel that you were abandoned last week, as you tried to contact him for 3 days to see a property and never got a call back. Since you felt abandoned, you are cancelling the Buyer's Agency Agreement with him effective immediately. I would send a copy of that to his Broker Manager, as well.

Abandonment is a defensible argument to cancelling a contract with an agent, whether as a Buyer's Agent or a Seller's Agent.

Best of luck to you!
0 votes Thank Flag Link Wed May 2, 2012
Erin is correct, what does it say within your contract about property section 3.4? Property means real estate that substantially meets the following requirements or similar real estate acceptable to buyer:_____________. Then look at your contracted dates and holdover period. After that I would consult a lawyer. Good luck.
0 votes Thank Flag Link Wed May 2, 2012
Did the new agent ask you if you were under contract with anyone? Did you check Yes in section 9, buyers obligation to broker?
Flag Wed May 2, 2012
It depends on what the contract says?
0 votes Thank Flag Link Tue May 1, 2012
It would depend on what is written in your contract, if you have a copy of the contract, take a look at Section 3.6, which defines the term of the contract. Another thing to look at would be the holdover period, which is Section 7.5. These section numbers are based on the most recent Right To Buy contract (form BC60-8-10). If you still have questions after looking over what your contract says, you should speak with an attorney.

I hope this helped!
0 votes Thank Flag Link Tue May 1, 2012
We are still in the term as defined by section 3.6.
However, the new property we are looking to purchase is NOT one that the previous agent 'negotiated' in any way or gave us the listing for- this listing we found ourselves and asked both the old and new agents about.
Flag Tue May 1, 2012
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