Sept. 28, 2009
Dear George: I signed a listing agreement for 180 days. Now, after two months, I'm very unhappy with my agent's services. Can I get out of the agreement?
Answer: No real estate agent can force his services on you. However, if you unilaterally terminate your agreement, it might bring some unwanted liability. The key in this situation is whether you terminate the agreement with cause. Before you do anything, communicate with your real estate broker, assuming he's someone other than your agent, and tell him why you're dissatisfied. The broker may assign you a different agent, or he may release you from your obligation. If you can't resolve the problem by talking to the broker, hire an attorney.
Dear George: I'm trying to purchase property, but the closing date is about to pass. I've contacted my lender and am making a bona fide effort to close; I also sent the seller an amendment to extend the closing date. However, the seller refused to sign the amendment and asked me to terminate the agreement. I refused—I want the property and can close if given a little more time—but the seller has returned the property to market. Do I have the right to purchase the property, since I'm doing everything in my power to close and have been assured that I will by a direct endorsement lender?
Answer: You can't force the seller to extend the closing date, provided the seller has otherwise lived up to the contract terms. Therefore, you have no right to the property; you defaulted.
E-mail a question to ask George & Chuck or fax it to 713-978-6684. The answers to questions in this column do not contain legal advice. If you wish to obtain legal advice, you should consult your own attorney.
