If you are talking about an agreement to list your property for sale, you need to discuss this with your listing agent. It is possible, depending on the agreement, that you may have to reimburse the listing office for advertising and other expenses. If your agent did as you asked and marketed the property well, consider being kind and sending him or her referral business and/or a token of thanks. Most agents work on commission only and are not compensated unless a property closes. If this was a choice on your part as you changed your mind, realize that your agent may have been working for you without pay. Consider how you might feel in that position.
The down payment must be returned with additional sum of money that the parties agree upon.
This could release the seller from the obligations of the contract, including to sell.
This could also be very dangerous business and could result in a lawsuit.
Always have a good lawyer on both sides, buyer and seller.
Rhona Magelowitz, Broker
Forest Hills, Queens, NY
347 262 2421
That option is...TALK TO YOUR AGENT!
Soliciting opinions from strangers on the internet should be the very last thing you should consider when you've changed your mind after signing a contract..
You make be required to pay for the resources you compelled your agent to spend on your behalf to get your home sold for the highest price and shortest time frame.
You need to talk to your agent. They will share with you the provisions embedded in the contract you signed.
Best of Success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL