U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Colorado
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
 
 
Old 07-16-2009, 12:49 PM
 
14 posts, read 31,977 times
Reputation: 12
Default Exclusive right to buy contract - Transaction broker

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...
Quick reply to this message

 
Old 07-16-2009, 04:06 PM
 
Location: Laguna Beach CA./Denver CO.
2,370 posts, read 3,005,995 times
Reputation: 1839
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.
Quick reply to this message
 
Old 07-17-2009, 10:22 AM
 
Location: South Metro Denver for 25 years
8,585 posts, read 18,727,491 times
Reputation: 4311
You can ask for a release, or you can re-offer for the house you want knowing all its defects.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Colorado

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top