If your buyer`s agreement clause is silent for termination, make sure your state has a special form for terminating the buyer`s agency contracts or contact your agent directly to see if your office offers such a form. This form can be referred to as “cessation of agency and release.” The termination form will ask you to provide some information about why you want to terminate the contract. The form should also describe the fees you can pay after the termination. If your agent and state do not offer such a form, write your agent a letter asking if they are prepared to terminate the contract and the proposed terms of withdrawal. Check the terms of your buyer`s agency agreement to determine if there is a clause indicating when the buyer has the right to terminate the contract. The termination clause may allow the purchaser to terminate the contract without cause. In addition, a termination clause may contain certain facts under which the purchaser may revoke the contract. If your agreement has a termination clause and it applies to your situation, write a letter to your agent indicating that you want to call the termination clause. In your letter, explain why you are taking this step. A brokerage contract establishes the relationship between an agent and a person or company wishing to acquire a property. The agreement should contain a detailed description of the property sought by the buyer, the obligations of the representative, the compensation of the representative, the capacity in which the representative represents the buyer and a clear description of the duration of the contract or the duration of the agreement. Whether you can terminate your buyer`s agency contract depends largely on the terms of the contract, your relationship with your agent and your particular circumstances.
Some buyer`s agency agreements may allow for conditional or unconditional termination directly in the document. All the buyer`s agency contracts may be terminated for as yet unexplained reasons if you can prove that the representative has breached the contract. Finally, you can always terminate your contract with the permission of your agent. If your agent is unwilling to terminate your buyer`s agent contract on terms that you deem acceptable, you may attempt to terminate the contract at any time by asserting an infringement. First, check the agent`s obligations as listed in your buyer`s agency contract. Even in an agency contract involves fiduciary duty for the agent in your best interest. If you find that the officer has breached one of his obligations, you state that you intend to assert a right of infringement if you are not authorized to revoke your contract. If you do not comply, you should sue for breach.