FundRobot » Fund Price » Canceling a listing for home sale?

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Old   #1 (permalink)
 
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Default canceling a listing for home sale

I'd like to cancel my listing. The contract expires in 6 months. If I cancel it, what are the typical consequences? Is it just that I can not list with another agent until expiration ?



Also, do I have to accept an offer if a buyer accepts my asking price ?
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Old   #2 (permalink)
 
Posts: 2,502
Default canceling a listing for home sale

It depends upon your contract. You need to read it. Some firms will let you cancel your contract without issue. They may charge you a small fee for the marketing they have done, such as a Virtual Tour of your home, or advertisements they have placed. If they used a staging service, you'll be charged for this too.

If there is an offer on your house, then you have a bigger problem only if you ACCEPTED the offer. Trying to cancel would put you under breach of contract. You could be liable for incurred costs and damages. Basically, you failed to perform a term of the contract without a legitimate legal excuse. However, if you failed to accept an offer that was full price, you probably have some explaining to do to your Realtor as they've put up the funds to market the house. We're back to the first clause of fees to cancel out of the contract.

And - YES - you would not be able to list with another agent through the duration of the original contract. Some agencies disallow you to list with another agent for several months after the contract ends (though that provision is rarely enforceable).
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Old   #3 (permalink)
 
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Default canceling a listing for home sale

you do not have to accept any offers even if its exactly how much you want but...Check laws & how to's on the Dept. of consumer affairs web site
NewEra50 is offline   Reply With Quote
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