Cancel selling contract with realtor.
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Cancel selling contract with realtor.
I entered a 6 month contract with a realtor to sell my condo. I quickly realized (less than a month later) it would be financially devastating to sell right now. I asked to cancel the contract but they said no, only the listing will be removed from the MLS. What are my rights to cancel the contract with the realtor?
Asked on May 19, 2009 under Real Estate Law, California
Answers:
J.V., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
Without seeing the actual agreement it is hard to tell what options you have. However usually when you sign an exclusive with a Realtor it does in fact mean you must use that person for the time specified.
My question however is that since you state you changed your mind and will not sell the condo than why does it matter if the contract is in effect. When the six months ends you can than do as you please with selling the condo and since you do not want to sell anymore there would be no reason to be concerned with that exclusive being in effect.
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