Is it necessary to get both a Termination of contract and Release of Earnest Money for each transaction??

In my opinion, Disposal of the agreement is a demonstration that may happen wherein an agreement can be legitimately ended before the authoritative obligations have been satisfied. Gatherings may decide to end contracts for an assortment of reasons, however, not all terminations of agreements will enable them to escape risk.\nBlack Leather Jacket

He is also the property owner. Is this ethical? I have a buyer for the property who owns the property across the street from this, he told me i can sell it but not to them, he has met them and says they are his customers. I have sold them 4 pieces of real estate in 2 years, and they want nothing to do with him. Advice??

Carla, no property owner (MLS member or not) HAS to post their property on the MLS, so no real issue with ethics there. As far as the owner of the property across the street goes, it\'s a bit of a \"grey area\", but the Seller in this case may actually potentially be within his right. See the attached article for further explantation of what I mean there. Now personally, I see a HUGE factor here and that is the fact that the owner/agent/seller is representing himself in this transaction, and can in no way possible represent a buyer fairly. That being said, if a buyer wants REALTOR representation, he should allow them to seek it where they choose. Trying to force them to use him, move forward without representation, or not buy his property, is extremely unethical in my eyes. But then I could see him choosing not to pay the buyer\'s agent at which point the agent would have to advise their clients weather they were willing to work for free or not. Maybe the buyers would be willing to pay their agent\'s commission, though that is not customary in our market. Hope this helps and that everything works out for your clients!

What do I do? Exactly what are the options under specific performance?

The best advice to give a seller who wants to back out of a contract to sell their property is to advise them to contact an attorney to get legal advice. Realtors cannot give legal advice. You can reach out to the buyer\'s agent and let that agent know of the seller\'s inability to locate a home to buy. Maybe with the buyer\'s agent\'s help the parties can renegotiate the closing date to give the sellers more time. But, the buyer\'s agent will most likely direct you to the closest apartment complex. This is a tough situation. But, if the seller\'s want to terminate they will need to consult with an attorney.

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