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Missy | Signed contract with realtor to sell my house on Thursday; can I cancel on Sunday? |
I am probably going to sell my house so I signed a contract with a realtor on Thursday morning.
However, the house has not been listed in MLS listings yet because it's a mess here and I have a lot of cleaning up to do.
Meanwhile, this morning my neighbors across the street told me they would be interested in buying the house for their elderly parents. If we sidestepped the realtor process, they could save on real estate commission fees and get a deal; and I would avoid the hassle of showing my house.
Someone told me that you have 72 hours to cancel a realtor contract. Is that true? Because as of this morning (Sunday), it has been 72 hours since I signed it.
By the way my realtor still hasn't given me a copy of the contract yet, so I can't check the verbiage to find out. |
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greengrass44444
 |
you can definately cancel most realtors are flexible .i would cakll him and notify him immediatelly that you changed your mind |
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zena e
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Once a listing is signed , you can take it off the market if you changed your mind about selling, until the listing date expires
You are free to sell your house then, but if you sell your home to a person that , the realtor introduced to the you, you are liable for the commission.
Sunday a legal business date to conduct business today. Your argument about "SUNDAY" does not apply.
There is no 72 hour escape clause.
In the listing agreement , it states very clearly, you are receing a copy. The realtor will just provide you with a new one,
as your signature stated you received a copy of the listing agreement is on the listing.
Hope this helps |
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MikeHaleHomes
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You can talk to your Realtor, but you most likely signed an "Exclusive Right to Sell" contract. This means you'll be responsible for paying a commission regardless of how you found the buyers.
If the contract specified a reason for not being entered right away (which is common in some areas to finish repairs or cleaning) then the fact that it wasn't entered into the MLS yet doesn't make a difference.
You do need to get a copy of the contract to check the agreement, but you entered into a binding contract with the broker when you signed the listing agreement. Unless your state law specifies a contract grace period, it will be up to your broker to decide if they are willing to let you out of the contract. |
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Beau R
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You should check with the state law on this, but in some states, you do have a "grace period", to reconsider your decision. |
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heyteach
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You should never sign a contract you do not have a signed copy of.
I suspect the issue is addressed in the contract.
However, if your house really is not yet listed on the MLS and if these people are QUALIFIED buyers and will pay an acceptable price, most likely what could be done is that you will use the realtor to dot the i's and cross the t's and ask for a reduced commission--certainly no more than half of what they said to begin with--in consideration of substantially less work. Normally they'd split with a buyer's agent, so that should be acceptable--just get it in writing--in fact witnessed would be a good idea as I can hear someone screaming later on.
You don't really have a house sale now either--you have supposed interest from folks who have no intention of living there and may or may not be in a position to make a deal happen.
Good luck. |
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Tony R
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yeah sure if you want you can |
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Chocolate2
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That first depends on can you contact your realtor. If you can, then yea you should be able to cancel but you will probably have to pay some kind of fee. |
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vinceums
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72 hours is correct in most states. Make sure to contact them ASAP and put the cancellation in writing. |
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Pp
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Chek the laws in your state Saturday & Sunday may not be counted as "working days" |
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shawn9600
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if they haven't given you a copy then you should be in the clear but beware that alot of Realtors will try to charge you a fee for early termination of a contract. |
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