Legal Question in Real Estate Law in Florida

cancelling sale with realtor

we signed an exclusive agreement to sale with a realtor.

is there a 3 day period to cancel? notifed realtor same nite we signed to cancel, she wants us to sign a withdrawal agreement but with the condition if we sell the house on our own during the contract date (until nov. 4th) she gets a commission. can we get out of this if she does not agree to completely release us.


Asked on 5/12/04, 9:17 am

2 Answers from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: cancelling sale with realtor

Without readi8ng the agreement it is not possible to provide you with an accurate reply. The previous reply gives you meaningful options.

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Answered on 5/13/04, 1:09 am
Peter Gonzalez Sanchez-Medina, Gonzalez, Quesada, Lage, Crespo, Gomez & MachadoLLP

Re: cancelling sale with realtor

Unless the contract contains a 3-day right of rescission, you are stuck with the contract. Why sign a termination agreement that in effect allows the realtor to do nothing but still earn a commission if a sale closes by November 4th. If you still intend to sell, you might as well keep your realtor but modify the contract to reflect a higher asking price, if appropriate. If you do not plan to sell, having the contract in effect will be of no consequence unless of course a buyer who is ready, willing and able to purchase the property at the listing price is secured. Then you would be in default under your listing agreement if you rejected the offer to purchase. Your realtor should, at a minimum, shorten the time from 6 months to 3 months, under the withdrawl agreement she proposes. Good luck.

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Answered on 5/12/04, 10:01 am


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