You're asking for legal advice. The only person who can answer a legal question is a lawyer. You're asking if it's OK to break a contract. You need to ask a lawyer that.
However, regarding the real estate, I'm going to play the devil's advocate here, and ask you to please keep in mind that much of the work a Buyer's real estate agent does happens between contract and closing. When two parties exchange properties, there is twice as much of everything. Two purchase and sale contracts to negotiate, two appraisals, two home inspections, two surveys, two title searches, two title examinations, two closings. Twice as many opportunities for things to go wrong. Exchanges are more work.
It sounds like you need to level wtih your agent. Tell him your concerns. If he can keep both contracts together until closing, he will definitely earn his commission. Good luck.
Maggie Hawk, REALTOR
Watson Realty Corp.... more
My name is Bo Smith with Cornerstome Home Lending, Inc better known as BoKnowsMortgages.com. Visit my website and/or reach out to me at firstname.lastname@example.org. Give me more information on the cost anaylisis in closing costs on this loan so I can better help you.... more