Legal Question in Real Estate Law in Pennsylvania

contracts/agreements

If I sign a real estate contract with a broker to sell my house then change my mind and do not want to list it or sell it, do I have a timeframe to change my mind (void the contract) without any penalties?


Asked on 9/02/07, 11:26 am

1 Answer from Attorneys

Roger Traversa Arjont Group (Law Office of Roger Traversa)

Re: contracts/agreements

You asked about revoking a contract with a real estate agent.

You are still in the driver seat as long as you didn't sign a very offensive commitment.

A listing agreement is usually one that requires that a home listed with the agent if sold must be sold through the listing agent representing the seller. It does not require that the house be sold. A seller generally remains free to reject any and all offers. It is generally only when a listing agent finds a purchaser, either through their own efforts or the efforts of another agent, AND that an offer is accepted that there becomes any requirement for a sale to proceed.

Call your agent and explain that you will not be selling the home. There is no requirement that you make the home available to be shown and you do not need to make any accommodation for the agent. In fact, if the agent has a key, change the lock.

You should speak with an attorney that can review the agreement to be certain there are no clauses in the contract that would create a breach or default in your position.

Regards,

Roger

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Answered on 9/02/07, 1:49 pm


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