Sell My House Quickly

3 Responses to “just signed a contract to sell my house with r est comp now I want out will there be any ramifications?”

1. Lori H Says:
   June 24th, 2011 at 9:26 am

   I am assuming that you have only signed a "listing contract" with the R.E. company, not a "sales contract"

   If it is a listing contract call the real estate company – you should be able to remove your home from the market, without any ramifications.

   If it is a "sales contract" (this is where you already have a buyer), then to back out there may be ramifications. The purchaser can sue for "specific performance". Although, I have never in my 18 years in Real Estate ever seen this, it can be done. You could be expected to pay for any out of pocket costs the buyer has paid up to this point, which I would say would only be fair.

   Hope you only had a "listing contract" – as I said you should have no problem withdrawing the listing from the market.

2. hollywoodmelody Says:
   June 24th, 2011 at 9:26 am

   If you signed a listing agreement than you must keep your house on the market for as long as that listing agreement states whether 30,60 or 90 days or longer. You can notify the agent that you want to take your property off the market so that the agent can put in the agents remarks comments to other agents that the house will be taken off the market but if there is an offer that comes in your agent must present it to you, That does not mean you have to accept it however.

3. Mary B Says:
   June 24th, 2011 at 9:26 am

   No.

   As long as you are not wanting to cancel the contract in order to sell it privately to cut the agent out of the commission (b/c they WILL BE WATCHING the public records to check for a property transfer), they will be happy to break the contract.

   All you have to do is pick up the phone and explain that you have changed your mind.

   PS: Hollywood needs to stick with title and escrow…she is very, very wrong about how real estate listing agreements work.