I signed an agreement to sell my house in Mountain View. The property has some water damage and

Asked by Kk Mca, Mountain View, CA Thu Aug 7, 2008

after consultation with the realtor and contractors have come to the conclusion that its not a good time to sell this property due to the condition of the house and the market. How can I terminate this agreement?

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Eric H. Wong , Agent, Albany, CA
Thu Aug 7, 2008
Since the agent has already said that they do not want to list it right now, the broker should be fine with signing a cancellation of the listing contract.
You stated in your letter that you just consulted with a Realtor. If you did not sign a listing agreement, you may not even need to sign a cancellation.
In either case, the broker will honor your request.

Good Luck
1 vote
Susan Fagin, Agent, Los Gatos, CA
Thu Aug 7, 2008
Just ask the agent to cancel the listing - most agents will honor their client's request. Good Luck!
1 vote
Kim Benedict, Agent, Overland Park, KS
Fri May 9, 2014
Tell them you want to cancel, and it sounds like the agent don't want to seek it. You can go directly to the broker and let them know the situation and they should release you from the contact.
0 votes
Leili Mortaz, Agent, Campbell, CA
Fri Apr 26, 2013
Just cancel the listing! You are entitled to change your mind.
0 votes
John Hickey, Agent, La Crescenta, CA
Thu Aug 7, 2008
You said you signed an agreement to sell your home. Most likely you are referring to a listing agreement. As others have already mentioned, most agents will recommend that their brokers withdraw or cancel the listing agreement. Usually, just withdrawing the listing is all you need to do. In a hot market the risk is that someone will bring you a full price or high offer. Under certain circumstances this can make you liable for the commission. If the agent is uncooperative seek a meeting with the broker.

If, on the other hand, you meant that you have signed a Purchase Agreement with a buyer, it sounds like you may have sold your house. If the buyer ask for repairs you can refuse. If the buyer accepts the property without repairs you could be stuck. In this case you need to talk to an attourney as soon as possible.

Good Luck,

John Hickey
Dilbeck Realtors, GMAC
0 votes
David Blockh…, Agent, Los Altos, CA
Thu Aug 7, 2008

Ask the agent and the managing broker to cancel the listing. If it has been on the MLS and actively marketed, your agent may give you a list of potential buyers who have seen the home. Should someone on this list submit an offer and end up buying the house, the agent will want to get paid. If your home never hit the market and no one saw the house, your agent should release you out of the listing contract without any problems. If there are problems, you should seek the assistance of a real estate attorney.
Web Reference:  http://www.losaltoshomes.com
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