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Old 07-16-2009, 12:49 PM
14 posts, read 44,002 times
Reputation: 12


quick question,

We signed an exclusive right to buy contract with a local colorado real estate agent as a transaction-broker. The sell of the home to us fell through the day before closing because the owners failed to fix any (not one) item that we mutually agreed to before we took posession. Our earnest money was returned without any questions. My question is, can we employ the services of a different buyers agent, without being held to the terms of the transaction brokers exclusive right to buy contract? We never thought the sale of the home wouldn't happen, so the length of the excluse contract, which was 6 months at the time, was never a concern for us. After we felt we were led on by the transaction broker during the entire home buying process, we no longer wish to use his or his firms services. In the property section of the contract, it states "All of Colorado Springs". I'll know better next time i guess. Thanks for the input...
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Old 07-16-2009, 04:06 PM
Location: Colorado
2,561 posts, read 5,022,895 times
Reputation: 2223
You are unfortunately going to have to appeal to the good graces of the brokerage firm that you have the contract with to release you from its legal constraints or wait out the remaining time frame. This is why when I was an active broker I inserted a special provisions clause in my contracts that buyer or listor could terminate at any time for any reason, so I could be fired or fire my client( no reason to work with a bitter party). A good broker will look at reputation before a sale. You might remind him of that fact. You will have to get this in writing before choosing a new agency or broker..sorry to hear about that..not fun.
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Old 07-17-2009, 10:22 AM
Location: Just south of Denver since 1989
10,915 posts, read 29,408,411 times
Reputation: 7144
You can ask for a release, or you can re-offer for the house you want knowing all its defects.
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