How can I get out of my contract if I want to rent out my house and take off market?

Get Legal Help Today

 Secured with SHA-256 Encryption

How can I get out of my contract if I want to rent out my house and take off market?

My realtor has only shown my house once since March. It is now august and I
cannot afford to make the mortgage payments anymore. How can I get out of my
contract and rent it out?

Asked on August 18, 2016 under Real Estate Law, Pennsylvania

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

Do you mean a contract with the realtor? If so, those contracts do not typically obligate or force you to you sell your house--you are allowed to withdraw from marketing/selling the house whenever you like. Obviously, you need to review your specific contract, to see what it says--every contract is governed by its own particular terms; and in particular, you need to review it to see what, if anything, it says about renting--i.e. if you now rent the home, will you have to pay the realtor a commission? (Some contracts do require commission if you switch to renting.)
Subject to the terms of your specific contract, as a general matter, you may withdraw the home from market and rent it.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption