Can you break a real estate contract?
If you are in a contract with a broker to sell your business for a year and the year is about up and he hasn't shown the business except 2 times that I know of and has no pictures of the building or contents....If we want to break the contract, can we do this without having to pay him? The contract does state we would have to pay him if we break the contract, BUT HE HAS NOT DONE HIS JOB.5 years ago - 3 answers
Unfortunately if you did not get performance guarantees in your contract you can not impose them after the fact. If you do have performance guarantees, of course you can enforce them.
Brokers have been known to leave a client dangling until the client feels they just must get this sold right away, to trigger panic selling to a buying client.
In fact we never know whether an agent may have promoted the property in various ways. Not all showings are done with the owner's awareness. But the property may not be right for the market. I know that when looking for a property I said no to most without going in, even without driving by.
At least go talk to the agent and express your dissatisfaction.
Many agents will let you out of a contract if they have no prospect in sight rather than have you dispute this in court. It makes the agent look bad.
One reason the agent will hang tough is that they do have a prospect.
Read the contract. You note that the contract says you'd have to pay him if you break the contract. OK. But has he complied with the terms of the contract? Does the contract require him to perform certain actions (such as market the business, post pictures of the building or contents) that he hasn't done? If that's the case, then (I'm not a lawyer, so this isn't legal advice) he's already breached the contract.
Again, read the contract. If it looks like you might have an out (or even if you can't find one), check with a lawyer.
Based on your statement that the year is almost up, you should be able to terminate the contract simply based on expiration without having to worry about "breaking" the contract. If you are willing to wait out the contract, you should simply provide the broker notice that you will not be renewing the contract at the end of the term.by MC Wife - 5 years ago