Home Selling in 33458>Question Details

Ob-7, Home Seller in Jupiter, FL

How can a seller cancel a real estate contract?

Asked by Ob-7, Jupiter, FL Mon Jun 4, 2012

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Answers

10
Speak to an attorney. Good luck.
1 vote Thank Flag Link Thu Oct 18, 2012
Can California home seller cancel contract when buyer keep asking for extensions to closing date?
0 votes Thank Flag Link Tue Mar 12, 2013
If you mean cancel the listing contract, as in wanting to take it off the market, and not sell it anymore - you just have to let your agent know you have a change of plans, and there should be no problem with removing it from the active listings. You would still have a legal obligation to pay a commission should you change your mind, and decide to sell...this obligation will last until the listing period expires.

If you mean you want to cancel your listing with the Broker and be free to list elsewhere - that's not so easy to do. You'd need the Broker to agree to give you an "unconditional release" , which would then allow you to move forward with another company. You'd need to work this out with the agent and Broker.

If you mean cancel a SALES contract that you have entered into with a buyer..........that depends on the contract, and what contingencies there are that have not been satisfied.
Ask your agent where you stand, or better yet.............check with a real estate attorney to see what legal rights you have.

Best wishes!
0 votes Thank Flag Link Wed Jun 6, 2012
Qb- All contracts involing Real Estate should be taken seriously ! In
cancellation there is always the issue of "EXPOSURE" ! The
other party dosn't need to prevail to cause a problem-all that
needs to be done is create a "cloud on the title " and you are in
place for your "worst nightmare ". Carefully consider what you are
trying to acheve then get good legal advice as to how cancellation
wil help you! Best of Success! Get good Legal opinion before making
any moves!

Bob Brubaker Highlight Realty Palm Beach County Fl. 561-876-6649
Web Reference: http://pbc-realcam.com
0 votes Thank Flag Link Wed Jun 6, 2012
I would contact a real estate attorney about this, but suspect the answer is no.

Nicole Marks Mason, Realtor
http://www.buysellboca.com
561-445-8743
0 votes Thank Flag Link Mon Jun 4, 2012
Dear Ob,

A very interesting question and a topic I had not too long ago with an attorney who only deals with real estate. Her take on your question was it would be very difficult to find a judge who would rule favorably on any specific performance lawsuit, especially if any case was properly presented on the plaintiffs behalf. While it seems crazy if I take this literally it would mean a seller could essentially say a couple minutes prior to closing that they changed their mind and if properly represented the ramifications would be minor.

If you are in a situation where you need legal advice please consult a capable lawyer who will be happy to assist you.

The very best of luck to you and I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.



Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
0 votes Thank Flag Link Mon Jun 4, 2012
Real Estate Contract????
Are you talking about your listing agreement with your listing agent's brokerage to market and sell your home, or are you talking about the real estate contract you signed with a buyer?

Two very different contracts....

There is in most cases always a way, depends on the reasons and what the terms in the contract or agreement say, therefore it is more a legal question ...... you can ask your listing agent's opinion based on the contract terms and then get more detailed legal advice from a good real estate attorney if that becomes necessary.

We cannot really give you any legal advice here and we do not know the terms in your contract either

EdithSellsHomes@gmail.com
@Properties North Shore, 30 Green Bay Rd. Winnetka Il. 60093
Edith always works in the very BEST interest of her clients Buyers, Sellers and Investors alike,
covering the city of Chicago, all N and NW suburbs and the fine homes of the North Shore.
Edith always goes the x-tra Mile with a Smile for all her clients.
Feel Free to visit my website
Have a wonderful Day :)
0 votes Thank Flag Link Mon Jun 4, 2012
You have the right to cancel with your broker however certain penalties may apply. You need to look over your agreement with them. Do you owe them a fee or penalty including costs incurred? How long are they entitled to a commission if you sell it yourself to someone that saw it during your agreement with them? These are protective covenants set up between you and the listing broker at the time of your agreement.
Good luck and I wish you the best. if I can assist you further, please contact me.
Judith Siller-Levy
Farber & Co
561-352-8866
sillerreal@yahoo.com
0 votes Thank Flag Link Mon Jun 4, 2012
Are you referring to a listing agreement with a broker or a sales contract with a buyer?
0 votes Thank Flag Link Mon Jun 4, 2012
Just contact your listing agent and say you would like them to cancel your contract with them and take it off the market. You don't need to say why unless you want to.

Read the agreement to see if you owe them anything for cancelling early. Some companies charge cancellation fees but most do not.

Good luck!!
Susanna
0 votes Thank Flag Link Mon Jun 4, 2012
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