Can i break a listing contract without penalty
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Can i break a listing contract without penalty
My sister and I are co-trustees for my mothers home. The home is being
sold as an estate sale or as is. The home has been listed for 3 weeks so far.
It is being sold in the Chicago metro area. I would to change brokerage
agencies. The contract runs for 180 days as written. Can this be terminated
earlier, without penalty or brokerage fees? If not can the terms and
conditions be reduced from 180 days to 90 days without fees or penalty
Asked on May 1, 2016 under Real Estate Law, Illinois
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
Once a contract is entered into, its terms may only be changed with the consent of all parties (including the listing agent), and may only be terminated early with the consent of all parties or if the other side (the agent) breached his or her obligations in some material (or important) way.
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