Email Elizabethhow to cancel a listing
How To Cancel a Listing or Purchase Contract
Wondering how to cancel a listing or purchase contract? Below is a previous post on another site written by partner Elizabeth Weintraub. What is so interesting — it’s as relevant today as when written, more than a decade ago. These questions are asked often by the public when visiting our website about: Sacramento Real Estate.
“It’s too bad that you can’t just rip up a contract to terminate an association or an agreement, but that’s not how it works. To find out if your contract can be canceled, the first step to take is to read the contract. Contracts typically contain a provision for cancellation.
Many contracts are bilateral, meaning a promise for a promise. If the other party is not living up to its promise, it’s possible you may have grounds for cancellation.
I give my clients personal guarantees that if at any time they are unhappy with my services or if they feel I am not performing as agreed, I will cancel the contract, whether it’s a listing agreement or a buyer’s broker agreement.
Because I am not a party to the purchase contract — at least not in California — I cannot cancel a purchase agreement. Only buyers and sellers (or the court) can cancel a purchase agreement. But purchase contracts contain provisions for cancellation and, in most cases, the buyer can get her deposit back. I’ve heard of buyers these days walking away from signing loan documents and canceling the contract at closing. The buyers either got cold feet, found a better property to buy or simply changed their minds. Of course, THAT leaves the buyer’s earnest money deposit at risk, but for some, it’s not enough to worry about.
If you require legal advice, however, by all means, contact a real estate lawyer, because real estate agents are not licensed to give legal advice.
Here is more about how to cancel a contract.“
— Elizabeth Weintraub
If you are interested in selling or buying a home, we are here to help you achieve your goals in real estate; call Weintraub & Wallace Realtors at RE/MAX Gold, 916-233-6759.
Can I List With Another Agent If My House Does Not Sell?
Only out of the heads of sellers comes a question like can I list with another agent if my house does not sell? I seem to be hit with a lot of odd questions lately. Another seller yesterday enthusiastically mentioned that she found a tenant to rent her house (meaning she does need to sell now) and would I prepare all of the legal paperwork for free? She was very worried about getting sued by the tenant. Because tenants have all of these god awful rights now.
Holy shit! Am I a fairy godmother?
Last time I looked in the mirror, I saw a Sacramento Realtor looking back at myself. Realtors get paid commission when they sell a house. We don’t work on rental properties. And we do NOT prepare legal documents without a law degree. Maybe she’d like me to prepare her family’s will, too, while I’m at it. But I said none of those things, ‘cuz why. What I said was you are so lucky we have a property management company!
The seller who asked can I list with another agent if my house doesn’t sell wasn’t really paying much attention to how his question would be received. Now, another agent might have answered that question with a response that says absolutely and let it go. They do nobody any favors with that approach.
But not me, because I feel a desire to educate and enlighten. Yes, I will go there.
I explained that if his house doesn’t sell, another agent won’t be able to help him, especially not when he’s already hired one of the best agents in Sacramento. If his house doesn’t sell, it will be because buyers no longer want to pay what it is worth or the market has tanked. It will have nothing to do with me.
He responded by disclosing he’s been burned in the past. See, call me out on stating the obvious, but isn’t that purpose of hiring a top producer? So you won’t get burned? Damn those scum-ball agents messing it up for the rest of us. I promise automatic cancellation for all of my sellers if any are ever so upset they want to cancel the listing, which has never happened. Knock on wood, LOL.
I just told him he’s safe because in my 40+ years of selling real estate, not one client EVER accused me of burning them. But I am not unsympathetic regarding his former situation. Further, it’s sad that sellers have to ask this kind of question to start with.
But that’s what we are up against it. Former bad experiences that clients survived with some agent who screwed them over. Well, that kind of lowlife agent is not me.
