I live in New Jersey . Last night I signed with a realtor to sell my house. Do I have 3 days to cancel it?

Asked over 1 year ago - Marlton, NJ

6/28/13

Attorney answers (3)

  1. John B. D'Alessandro

    Contributor Level 14

    4

    Lawyers agree

    Answered . If you used a realtor's form contract of sale they typically have an attorney review clause which permits either party to cancel the contract for any reason within three days for any reason or the contract becomes binding. You should read that clause carefully as the language usually states the contract will become binding upon the parties unless "an attorney reviews the contract and disapproves it". This means that the buyer or seller cannot cancel the contract themselves, but must retain an attorney to do so. So to answer your question, No you cannot cancel it but your attorney can on your behalf.

    IMPORTANT LEGAL NOTICE: The response to the question posted is not legal advice and it does not create an attorney-... more
  2. Michael T Millar

    Pro

    Contributor Level 19

    4

    Lawyers agree

    Answered . It depends on what you signed.

    If you are talking about the listing agreement, then the answer is no - there is no right of cancellation. However, you can agree to withdraw you home from the market (you would be precluded from listing with someone else during the term of the listing agreement).

    If you signed a contract of sale, then in NJ all realtor prepared contracts contain a three day attorney review period during which time your attorney may review and cancel the contract for any reason - or no reason. Note that the attorney review clause does not give you the right to cancel - it gives such right to your attorney.

    If this answer was helpful, please mark it as helpful or as a best answer. This answer is for general education... more
  3. James P Brady

    Contributor Level 14

    Answered . Listing Agreement - The answer is "No."

Related Topics

Real estate buy and sell agreements

A buy and sell agreement is a binding contract outlining the terms under which ownership of a piece of property will be transferred from the seller to a buyer.

Real estate

The term real estate means land and items permanently attached to it, like buildings. This area of law deals with who has the right to own and use these items.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

25,076 answers this week

2,992 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

25,076 answers this week

2,992 attorneys answering