Can I get out of my Exclusive Right to Buy contract or my Exclusive Right to Sell Contract prior to its expiration date if Im not satisfied with the service provided?
A properly executed Buyer Agency Contract is a binding employment agreement between the buyer and a broker for a designated period of time, stated in the contract. The contract typically ends when the buyer purchases a home or the termination date is reached. The standard forms of these contracts do not provide an option to the buyer or seller to unilaterally terminate the contract without potential financial consequences. A request for cancellation can be made to the broker hired however and the contract can be terminated early by mutual agreement. Real estate brokers are not obligated to honor such requests however and may simply refuse to do so or ask for compensation for the cancellation of the contract. If the broker is not willing to voluntarily terminate the contract, consumers are advised to seek legal counsel prior to taking unilateral action. To help preclude this type of problem, consumers might consider asking the broker to include a clause in the contract to reserve their
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