Home Selling in 36527>Question Details

Baseball 1, Home Seller in 36527

Can you back out of a contract with a real estate company if you have decided not to sell your house.?

Asked by Baseball 1, 36527 Sat Oct 24, 2009

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4
As Dottie says, read your listing agreement.

Often, the answer to your question is "yes." However, as she notes, you well could be liable for the commission if the move is simply to sell it privately without an agent.
1 vote Thank Flag Link Sat Oct 24, 2009
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Hi Baseball 1............(ok, I just have to say this - GO YANKEES !)

To answer your question simply, Yes....of course you can back out of a contract if you have decided not to sell. I can't imagine any listing contract that would force you to sell your home, but as others have mentioned, you need to read your listing agreement, especially the small print!

I have had sellers decide not to sell...maybe they saw that they weren't getting the price they hoped for......maybe their personal situation changed. Whatever it is...they had the right to withdraw from the market. You don't need to play any games like dan suggested - just be upfront.

What you can't do, however, is list with another company or sell the home to anyone during the remainder of the listing period. If you did sell, the brokerage would be entitled to the full commission. But, if you truly don't want to sell, then this won't be an issue.

Certainly no one will force you to sell your home if you've changed your mind..............I had a seller withdraw after only 3 weeks, and after I had already spent several hundred dollars (out of pocket) for intial markeitng items..but.....it happens......no big deal................on to the next listing!!

By the way, my company would never charge a "withdrawl fee"....hope yours deosn't, either!

Good luck!
Debbie Rose
Prudential NJ Properties
0 votes Thank Flag Link Sun Oct 25, 2009
Hi Baseball 1,

Read your listing agreement with your real estate company!
It should give you the answer, if you decide not to sell anymore.... But be careful if afterwards you change your
mind and what you do thereafter. So either discuss your contract with your listing agent in earnest, or have
a real estate attorney explain it to you.....

Everything should be clearly stated in that listing agreement.
Good Luck to you.
Edith Karoline YourRealtor4Life! & Chicago & Northern Illinois Expert
Working always in the very BEST interest of her clients....
EdithSellsHomes@gmail.com
Century 21 SGR
0 votes Thank Flag Link Sun Oct 25, 2009
YOU HAVE THE RIGHT TO WITHDRAW YOUR LISTING. READ YOUR AGREEMENT; YOU MAY BE OBLIGATED TO PAY A WITHDRAWAL FEE; BUT KEEP IN MIND THAT IF YOU SELL THE PROPERTY YOU MAY BE OBLIGATED TO PAY THE REALTOR FEE. READ YOUR AGREEMENT AND IF YOU DON'T UNDERSTAND IT; HAVE YOUR AGENT EXPLAIN IT TO YOU.
0 votes Thank Flag Link Sat Oct 24, 2009
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