re: "so you will not be able to relist with another company without the hazard of paying 2 commissions should it sell."
Not necessarily true. Most agreements will state something like:
If the house is sold with a licensed broker to whom you are obligated to pay under terms of a subsequent agreement, then you (seller) will only owe the first realtor partial fee, i.e. the difference between their fee and the lesser amount actually paid by seller to such subsequent licensed broker.
Of course, it all depends on the realestate laws in your state.
However, but you might have to pay them a fee, if you sell your home with someone else later and it is within a time period mentioned in your 'terms of agreement' after the 'term' is up.
Example: A term of agreement was setup for March to June 2011. Within the agreement it is stated: "Seller agrees to pay realtor's fee If the property is sold within 180 days after the Term of this Agreement to anyone who was introduced to the property prior to the expiration of said Term. So for 180 days AFTER June 2011, you are still liable to pay the fee in these circumstances.
Unfortunately, some homeowners want to withdraw their home because they believe they found a buyer on their own. Sometimes they found this buyer because of a Realtor's sign on their front lawn or saw it on the Realtor's web site. Would it be fair to the Realtor to withdraw because of this? I think not. I think your situation is different. I think Gail kind of summed it up.
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I have seen some Realtor's contracts that contain an early termination fee of $500 in order to compensate them for advertising fees they've encountered on behalf of the seller's property.
I hope you have no such clause in your contract and wish you the best.
Look carefully over your contract to check on fee's etc. Also, talk with your Realtor about your current situation and the changes that have come up during the process. Most Realtor's want to keep good will and would consider letting you out of the contract due to your situation. Bottom line is a good realtor does not want to sell you home if you do not want to sell it. Good luck
You've received the advice I would expect for someone in your situation. One thing to consider is what might happen if you are unable to keep the house?
I don't know your market, nor the details of your case, however you may want to consider keeping the home on the market while you are going through the judicial process. One advantage to having the home listed is that you will know the approximate fair market value.
If you were thinking of buying your husband's share of the home, you'd probably want to re-finance or use a home equity line of credit. Some lender's will not lend if your home is listed for sale, so I encourage you to look at all of the options. It is unfortunate, but it may turn out that selling the property is the only way to split the assets (unless of course you can negotiate that your husband will defer his share of the house until some future time...).
Best of luck to you and your family.
It all depends on the agreement you have with your realtor and what is on your listing agreement with the agent; which usually follows the common practice in your area.
In California, the seller can cancel the contract with an agent; and withdraw a property from the market pretty easily. Although this is not my practice; but I suspect some of the agents might ask for the sellers to cover part of their expenses in marketing your property.
The other thing is that in California, as long as one side sign the listing agreement, the agent can keep the house on the market to sell; the only thing is that they can't close escrow because both sides needs to agree to transfer the title over.
It really doesn't make a difference that there have been no offers, it's more a matter of how much money/time has been spent to market your home. The agency may want to recoup those fees at the very least.