contract with listing agent - no longer want to sell

[dpme]

What is the name of your state?GA

I have a sales contract with a realtor and I've decided not to sell. The house has been on the market for a month with no offers and my financial situation has changed, allowing me to keep the house. I do not see anything in the contract that addresses me changing my mind. How do I terminate this contract? If the realtor finds a buyer that agrees to my selling price will I be forced to sell?

 

[PghREA]

Just call up your Realtor and "withdraw" the home from the market. It is your house - you do not have to sell.

 

[seniorjudge]

What is the name of your state?GA

I have a sales contract with a realtor and I've decided not to sell. The house has been on the market for a month with no offers and my financial situation has changed, allowing me to keep the house. I do not see anything in the contract that addresses me changing my mind. How do I terminate this contract? If the realtor finds a buyer that agrees to my selling price will I be forced to sell?

What does your contract say about this situation (other than what you said above)?

 

[BradleyS]

First thing....Anytime you want to breach an existing agreement/contract with anyone, get legal advice from an attorney.....

Now then....

You can have the Listing Brokerage withdrawal the listing, and they should have no problem withdrawing the listing.

But be advised, the Brokerage will most likely keep the listing agreement on file and will not terminate the contract. This will deter you from selling the property yourself, or re-listing with another Brokerage.

Depending on the agreement, if the brokerage produces a willing and able buyer during the listing agreement the Brokerage may be entitled to receive a commission, even if you don't want to sell. But this does not happen very often.

 

[dpme]

Thanks to all that replied. I do not see any provisions that address this in the contract so I will talk to my agent. Thanks again

 

[clueless55]

You might also offer to pay for any expenses the broker has incurred in marketing your property and ask for a written release from the listing agreement.