When you sign a listing agreement with a real estate agent, you sign a bilateral binding contract. Wed Sep 28, 2022 by Oppenheim Law on Florida Real Estate. What are the top reasons to terminate a contract? So, the question is, how does one legally pull the plug and get out of a contract without creating a firestorm? Skip to Navigation | Skip to Main Content | Skip to Site Map. However, most agents won't want to risk hurting their reputation and may be willing to release you even if they don't have to. Since your listing is technically with the brokerage not the agent you may have an easier time simply asking to find another real estate agent within that brokerage. 721.10(1)). Financing has now become a major issue since interest rates have doubled, and ones ability to finance a home has now been reduced by the fact that so much more of the mortgage payment will go towards interest, thus reducing the amount of home that an individual will qualify to purchase. 91-237; s. 4, ch. If you are having a problem with a pending real estate transaction in Florida, then as a seller there are both legal and equitable remedies available to you to deal with the issues preventing the deal from closing. JA: Where is the property located? Contain the name, address, telephone number, and registration number of the commercial telephone seller and the salesperson, the total price of the contract, and a detailed description of the goods or services being sold. Only a limited number of specific exceptions allow a seller to cancel a contract, so be sure to consult with an experienced attorney. For example, if the buyer inspects the property First, all of the elements of a normal contract must be in place, and second, you must be able to prove that there was an oral agreement in the first place.