Legal Question in Consumer Law in Virginia

Real Estate Listing Agreement buyers remorse

I signed a Listing Agreement last night with a 1% termination fee if I want to get out of the contract.

During the conversation, the realtor said that an appraisal would never come in for the listing price. Therefore, she is just signing me up so we can drop the price later? That is duplicity! And I will have to lose money on the sale (mortgage is more than it will be sold for) AND pay 3% + 3%. Is ther a buyers remorse period. Can I get out of the contract without paying the 1% early termination fee.


Asked on 4/03/08, 8:28 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Real Estate Listing Agreement buyers remorse

With regard to the realtor's comments

regarding the likelihood of your getting the price at which the property is initially listed, such comments would seem to merely reflect the current realities of the market, and, no, I see so way of your now being able to avoid this contract without paying the required penalty for early termination.

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Answered on 4/03/08, 9:28 am


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