Listing Agreements Can Be Terminated By In Arizona
Description
Form popularity
FAQ
Among the options given, 'nonpayment of the commission by the seller' would not necessarily result in the termination of a listing. However, the other scenarios, such as the expiration of the contract, death or incapacity of the broker, and destruction of the improvements on the property, may lead to termination.
A listing cancellation form is a document used by a seller to formally cancel an existing listing agreement with a broker. It is typically used when a seller wishes to terminate a listing agreement before its expiration, or when the seller has decided to not move forward with the sale of their property.
The simplest way to terminate a listing agreement is through mutual consent. If both you and your agent agree to part ways, you can cancel the agreement without penalties. Make sure to document this agreement in writing, as it will serve as evidence in case of any disputes later on.
A listing agreement is an agency contract and is terminated by the death or incapacity of either the agent or principal, the bankruptcy of the principal, expiration of the listing, mutual agreement, renunciation by the agent, revocation by the principal, or the destruction or condemnation of the subject property.
Arizona law stipulates several conditions under which a listing agreement can be legally terminated. These include: Mutual Agreement: The most straightforward path to termination is when both parties agree to end the agreement.
