i am speaking with a homeowner that is wanting to end his listing and just sell his property (to me or whomever). the property has been on the market for almost a year and not a single inquiry.
how do i help the homeowner in canceling his property listing in a timely manner. the homeowner has an urgent need to sell because of living and working out of state and making two payments.
thank you for your help.
:biggrin
The homeowner needs to help himself. Isn’t he capable of calling his Agent and telling her that he wants to cancel his listing?
Do as AJ says and make sure they sign a cancellation, not a withdrawal. I read this somewhere in my worldly forum travels. I have a seller doing the same thing as soon as he’s back in the area. herbster
i contacted the homeowner and he believes his contract has an early termination fee written into it.
does anyone know of a way to cancel the agreement without paying a fee (if there is one)?
the homeowner says the realtor has not made efforts to sell the home, it has just sat there.
he can not afford it anymore.
thank you for your help.
My suggestion as a Realtor would be to call the Realtor and just be honest with him. Most realtors will let him out of the contract.
I like this detached building which is a listed property.It says Grade II double fronted mid victorian 5 bedroom house.It is in in a newly established Conservation Area…
I hope he’s going to give you a big discount because if it’s been sitting for 18 months it’s definitely not worth what he’s asking, even if he’s got the worst agent in the world, someone would have sold it by now if it was a deal.
It might be near the end of its listing period anyway, so maybe you or he could call the realtor and offer him or her a few hundred bucks for a release from his contract? That’d be better than the realtor getting nothing at all if it doesn’t sell.
I agree with the previous postings. The homeowner needs to call the Realtor and see if they can cancel the agreement. Most Realtors will cancel without to much fuss. If this Realtor is not willing to cancel the agreement without a fee, then I would put the house under contract and pay the fee. Or the other option is wait until the contract runs out.
In either case, you as an investor will want to get rid of the Realtor before you close cause they will more then likely want their commission at the sale… which either the seller or you will have to come up with.
Another way around this would be for the seller to lease the house to you, or owner finance it to you until the term of the contract with the Realtor is up and then you purchase the way that you intended.
Hope it helps
Gary