QUESTION
Can I get out of a real estate listing agreement?
Asked on Mar 14th, 2016 on Real Estate - California
More details to this question:
My parents passed away and I am now executor to my parents house after my sister, the primary executor signed the duties over to me. However, before she did, she signed a listing agreement with a realtor. Please note, there was a reverse mortgage, and the house is now in default. There is a bank sale date of June 07, 2016. I decided I want to keep the house longer or use a different realtor to sell the house. I believe the realtor my sister signed with is not working in the best interest of my family. And I don't believe my sister understood what she was signing. The realtor gave her a listing agreement for a year, and a purchase agreement from a buyer almost 50% below market value. I have been receiving threatening phone calls to sell which I reported to the police dept. All because my sister and I thought we were running out of time and would lose the house. I just learned about state and federal programs to help us. And I want to pursue them. So can I get out of this contract?
1 ANSWER
Estate Litigation Attorney serving Redlands, CA
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Price Law Firm, APC
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The terms of the listing agreement govern how you can terminate the listing agreement. In general, you will only be able to terminate the listing agreement by the expiration of the term of the listing agreement or by mutual agreement of the parties. Go ask nicely to the agent's broker to terminate the listing agreement.
Answered on Mar 19th, 2016 at 4:34 PM