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Buying or Selling a Home/Termination of Buyer Agreement
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Question
I am currently in the market to purchase a home and have contracted with an agent; however, I found myself conducting all the research and locating properties (countless hours of searching). The realtor simply schedules the viewing. May I terminate my contract based on the agent's lack of diligence in finding suitable homes?
Hi Patricia,
Sorry this took so long to answer, I've been away, and then my computer crashed!I've been trying to get it back online and boy is it frustrating!
As to your question, in NY you always have the option to terminate your contract. If you read your contract you will see a paragraph about that very thing. It will say something like:
"I understand that I may revoke the Brokers authority to be my agent at any time but, that if I do so the Broker nevertheless shall retain its contract rights, which may include but are not limited to recovery of its commission, advertising expenses,and/or other damages incurred by reason of my early termination of this listing."
I pulled that from the Exclusive Buyers Agency Agreement we use, but where ever you are, read thru your contract and see if it has some similar wording. As always I remind you that I am not an attorney and I do recommend you speak with one. There are many reasons for terminating a contract and your attorney can advise you best. Keep in mind that finding the property is just part of the package of expertise a good Realtor will do for you. There are many fine Realtors out there. Make sure you find one who puts you on the front burner by asking lots of questions, and see if you can get a feel for the person not just the sales person.
I hope this helped you, again apologies for how long it took,
Laurie
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Laurie Stephenson
Expertise
I can answer questions about Residential Real Estate in Upstate NY's Capital District area, from Albany to Lake George. I specialize in Saratoga Springs and the surrounding towns. I am a Buyers and Sellers Agent. Check out my website at www.lauriestephenson.com
Experience
Residential Buyers and Sellers Agent
Organizations
Greater Capital Association of Realtors, (GCAR)
New York State Association of Realtors,(NYSAR)
National Association of Realtors, (NAR)
Education/Credentials
Associate Broker
Awards and Honors
Million Dollar Club
Past/Present Clients
My goal is to make the process of buying, selling, or owning a home efficient, enjoyable and rewarding for you. See what my clients have said about my real estate services...
*Comments: Laurie was enthusiastic and supportive through the whole process. I would highly recommend her! JAC - Stillwater
*Comments: My wife and I recently purchased our home with Laurie Stephenson. This purchase was difficult because we were buying a home from 3000 miles away. Laurie worked with us for several months prior to the purchase. Then, when my wife and I arrived to look at homes, she helped us get right down to business.
Laurie's knowledge and expertise pertaining to the Saratoga community allowed my wife and I to find a house that was honestly, the exact home we were looking for. Laurie took our situation, our hopes and dreams, and helped us put them into perspective and find the home that was just right for our family. Laurie's dedication to our family was invaluable throughout the entire process and continues on past the closing of our home. My family and I appreciate everything that Laurie has done for us. We got the luck of the draw with Laurie, and couldn't have asked for a better real estate agent and friend.
Sincerely, Randal& Shanna Thorpe
*Comments: One of the most refreshing qualities about Laurie is she goes to great lengths before even showing a house to make sure her clients are qualified and she understands exactly what there looking for. Her unique ability to understand people and listen is why she's so successful. She puts her client's best interest first and assures they can buy and afford the house for years to come. As a Mortgage Broker responsible to the banks and the clients we have a perfect record and many happy homeowners.
Thank you Laurie!!!
Jim Teele
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