Please register to participate in our discussions with 2 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.
I would definitely call or email the Broker-in-Charge as they are ultimately responsible for all the operations of the office.
If, after talking with this person, you want out of the contract, send a letter to the Broker-in-Charge, certified!
Having bought and sold houses recently, I found that you need to get EVERYTHING in writing as Realtors have become the new "Used Car Dealers" with regard to honesty and integrity.
Also, never use their recommended vendors. Since I was always traveling, I trusted my buyer's agent to handle the home inspection and legal stuff. The Home Inspector basically rubber stamped everything for the realtor and missed lots of stuff and the lawyer was in collusion with the agent and gave horrible legal advice simply to close the deal.
The agent also misrepresented the property but since it was VERBAL, I have nothing to use in court.
The broker in charge has to release you. They could assign you another agent to complete the duration of the contract.
While it is advisable for the OP to get a the BIC to sign off this is not correct...
"In the clause that I have put down in the contract says the broker acknowledges that the buyer is entitled to unconditional withdrawal from the contract."
Unconditional withdrawl means no conditions, and the BIC can't impose any.
To the OP if you can't get the broker to sign of you should have a lawyer write your termination letter to make sure you are out of the contract, and don't have any liability
While it is advisable for the OP to get a the BIC to sign off this is not correct...
"In the clause that I have put down in the contract says the broker acknowledges that the buyer is entitled to unconditional withdrawal from the contract."
Unconditional withdrawl means no conditions, and the BIC can't impose any.
To the OP if you can't get the broker to sign of you should have a lawyer write your termination letter to make sure you are out of the contract, and don't have any liability
It is correct. The BIC/Principal broker/Managing broker is the one to release them. The contract is with the principal/managing/broker-in-charge and NOT the agent that is acting on their behalf. Out here we call them principal brokers, but THAT is the person to give notice of the termination.
It is correct. The BIC/Principal broker/Managing broker is the one to release them. The contract is with the principal/managing/broker-in-charge and NOT the agent that is acting on their behalf. Out here we call them principal brokers, but THAT is the person to give notice of the termination.
I know about the contract between the BIC and the OP, but the OP doesn't need to BIC's agreement or permission to terminate the contract because they have the right to unconditionally withdraw from the contract. The OP just needs a lawyer to word the letter/notice to the broker, that is all I am saying.
I know about the contract between the BIC and the OP, but the OP doesn't need to BIC's agreement or permission to terminate the contract because they have the right to unconditionally withdraw from the contract. The OP just needs a lawyer to word the letter/notice to the broker, that is all I am saying.
They can withdraw the contract based on that one clause, but the OP needs to make sure that they don't have a protection period in there for compensations and such. They don't want to get into a battle about owed compensation if a buyer comes in a month from now who saw the ad on the MLS. It is best to get a letter signed by the BIC stating that they are released with no further obligations for compensation. That's in their best interest.
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 register to participate in our discussions with 2 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.
