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Home Selling in Hopkinton : Real Estate Advice

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  • Local Info4
  • Home Buying18
  • Home Selling16
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Activity 10
Mon Apr 30, 2012
Don Tepper answered:
Maybe. But . . .

First, I'm not a lawyer, so this isn't legal advice. For that, you need a lawyer. You also need to consult with your Realtor.

If the buyer doesn't perform according to the contract, then likely yes. The buyer, for instance, probably is required to apply for a mortgage and for insurance coverage within x days of contract ratification. If that doesn't occur on time, then there could be grounds. In other words, there may be provisions in the contract that give you a clear "out."

Otherwise, it gets messy. As a practical matter, if you simply change your mind and decide you don't want to sell, it's very difficult to force you to do so. The buyers could sue for "specific performance" but that isn't a sure thing, and would take a while (and some up-front money). Your agent might also seek compensation from you--the amount of commission he/she would have received had you not backed out. Read your listing agreement for details.

Why do you want to get out of the deal? Are there adjustments that could be made to the contract to make it acceptable to you? Or what other issues are you confronting? There may be a solution short of "getting out of the deal" that would work for you and your buyers. Again, consult with your Realtor.

Hope that helps.
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Tue Feb 11, 2014
Joyce Lin answered:
Tue Oct 25, 2011
William Patterson answered:
Hi Damon,
I suggest that you take a good look at the contract you signed to answer the "ride out" question. Call your agent and discuss the situation with him/her, maybe you can come to an agreement that works for the both of you/

Best of luck!
Bill Patterson
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Sun Oct 23, 2011
Anna M Brocco answered:
If you are unhappy with the services rendered, do have a discussion with your agent first and express all of your concerns--if the chat is unsatisfactory to you, contact the broker owner or office manager of the realty company, express all your concerns as discussed with the agent and ask to be assigned another agent for the duration of your contract--oftentimes, it's the broker owner or office manager who decide any contract terminations not the agent. ... more
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Tue Feb 22, 2011
Scott Godzyk answered:
Well she doesnt have to have soemone reresenting her, but you certainly need someone representing you. You can either either use a Realtor or will need a lawyer. A Real Estate agent should be willing to work for less than half and can guide you trhough the sale. They will prepare the purchase agreement, provide you with the state and federal disclosures, assist you and guide your through the home inspection, will keep tabs and assist if needed with the buyers mortgage, will be there for the appraisal and go over the closing documents and attend closing with you.

You can hire an attorney for more money and they can prepare the documents and review them.

So it is up to you how much expereince you have and how comfortable you are, but for 1 or 2% you can receive comfort in knowing someone is looking out for you during the sale,

good luck with yoursale.
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Wed Jul 7, 2010
Anna M Brocco answered:
Are you in contract and is the contract executed, signed by all parties and was deposit money exchanged--if so review the contract and see exactly what it states as to your options for backing out, or consult with an attorney who specializes in real estate--do make your agent aware sooner rather than later about the change of mind-- ... more
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Thu Sep 28, 2017
Joseph Domino answered:
I assume you mean you have a listing contract? By all means tell your agent. Obviously he/she will try to convince you to stay on the market, but if you do not want to sell, Why put everyone through that grief?

Why have a Buyer get all hopped up, make a Buyer Agent do all the work, and have your agent follow up on showings, review offers and try to negotiate on your behalf if you are going to turn down all offers? Just be honest and have your agent take it off the market until the contract expires,
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Sat Mar 6, 2010
Mike Hughes Team answered:
Hi Esther,
Contact Mike Ferry Coaching and ask for a contact. Let me know if you have trouble, I am coached by them, and we are the most aggresive. If needed, I can help track a contact.
Good luck,
Mike
C: 617-610-0716
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Mon Oct 23, 2017
Michael Krotchie answered:
Hi Lori,

Sorry to hear about your experience with your Realtor. It sounds like you are not happy with the level of service you have been receiving and would like to explore your options.

My first response would be to have a talk with your Realtor and try to resolve the issues amicably (I would like to give a fellow Realtor the benefit of the doubt), but if this doesn't work or you don't think this is a path you want to travel down here are the facts.

The listing contract of your home is owned by the broker of the office your Realtor is working for. Technically, they do not have to release you from the contract if they do not want to, but in my experience, they want to leave their client's satisfied. You can call up your agent's broker (his boss) directly and voice your concerns to him. It is not uncommon for listings to be switched to another agent within the same office when friction like this arises between agent/client.

The second option is ask for a release from the listing contract all together. Although the broker is not obligated in anyway to do this, many times they will to avoid any further ill feelings from an unhappy client. At this point you would be able to re-list your home with another Realtor, keeping in mind some of the clauses in your original contract that pertain to whoever visited your home during the time your original Realtor had the home listed.

Does this help?
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Mon Nov 8, 2010
John Savignano answered:
it is a very price sensitive market. you want to avoid pricing your home to make your competition look better. it is absolutely better to price your home right where it should be. if it is priced well it will sell quickly and very close to asking. buyers set the market value not sellers or realtors, realtors advise you as to a list price which will attract buyers. buyers are looking at everything on the market and not in just one town, they know a good value when they see it and will act upon it, if they are serious.

John
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