Home Selling in 80124>Question Details

Laurie Josep…, Other/Just Looking in Bloomfield, NJ

Can you pull house off market if someone made offer but no contract signed?

Asked by Laurie Josephine Bennett, Bloomfield, NJ Thu Jun 7, 2012

House for sale, realtor would not let us out of contract, got offer we have not accepted as yet but small deposit was put down, contract not signed, looks iffy, can we just pull house off market til contract date up, soon, without any repercussions?

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Hello Josephine,

You got to read your listing agreement.
There, you'll find the answer to your question. There will be a termination clause.
It may or may not require a cancellation fee. Each state is different, and what's correct in one maybe "off" in another.

For example, some agreements may require you to pay full asking price commission to the brokers, if the offer was for the asking price/terms. If you refuse, they might sue you.

If you don't have a full asking price offer, you can reject this offer - escrow money does not obligate you to accept this contract.

It sounds like it's time to talk with the listing agent that you are working with to sell your house.
There have to be reasons for your not willing to sell the house now - that go beyond what you posted here...

In any case, best of luck to you, and hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Thu Jun 7, 2012
Hi Josephine, Please read all the terms and conditions of your listing agreement, as there will be a termination clause and possibly a HOLD OVER period where the agent will be able to protect commissions for any buyers who saw the property during their listing period, for 90-180 day period after expiration or termination. Please consult with the Real Estate commission in NJ as each state is different.
Since you asked this question last year, hopefully the issue is resolved by now and you have SOLD your home. Cheers, Jan
0 votes Thank Flag Link Fri Sep 27, 2013
yes, you can! as long as your realtor cooperates. You are not obligated to sell if you are not comfortable. Realtors will pressure you to move your property, but if you are not comfortable do not sign/sell. If your realtor is really pressuring you, contact the commission.
0 votes Thank Flag Link Wed Sep 25, 2013
I'd never make my clients stay in a contract they were uncomfortable with. As far as small deposit, You mean earnest money? Was it deposited? Was the contract signed then? You may end up being in contract. You can always check with the Division of Real estate for Colorado at DORA http://www.dora.state.co.us/real-estate/
There are rules and processes in place to protect the public when an agent does a poor job educating their clients on the process of buying or selling!
Good Luck in finding the answers you need.
0 votes Thank Flag Link Fri Jun 8, 2012
You can just stop showings and have the listing withdrawn from MLS but have the listing contract still in place, meaning if you receive an offer that you accept during the listing period, the listing agent would still receive their commission.
0 votes Thank Flag Link Fri Jun 8, 2012
Whatever your contract says, is what you can do. Just talk to your Realtor, they're in the business of helping people buy and sell homes and refferals are what keep food on our tables. Your Realtor will want to do whatever is best for you....just talk to him or her. If you've changed your mind about selling for now, there's a good chance you will call the same Realtor back when you are ready to sell again. If you are thinking that you will come to terms with this offer and you are tired of showings, you should be able to ask your Realtor to show it temporarily off the market or unavailable for showings, then when you do go under contract, you can have them show it as no showings or under contract taking back ups. Every area is different, I am not in New Jersey, but it's probably about the same. With loans being a bit difficult for Buyers these days, showing it under contract taking back ups might be the best way to go. I hope it all works out the way you want.

Sandy Kinslow
The Kinslow Team LLC
Coldwell Banker
kinslowteam@aol.com
303 596-4147
0 votes Thank Flag Link Thu Jun 7, 2012
Yes and no. You have a contract with a real estate company (it's not with an agent you know) and unless it says in there that either party can cancel then it must be mutually agreed to be terminated or it has to expire. But, you do not have to sign any offers no matter if they are full price or above full price. No one can make you sell your house. There is a possibility the company could sue if they got a full price no contingency offer on the house, but how often does that happen in this market with a house that is not a short sale or bank owned. You could request a price increase up 50%, which they would have to honor if your agreements are written like ours are, and i bet they will let you out of the agreement to list.
0 votes Thank Flag Link Thu Jun 7, 2012
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