Can I get a out of a contract withe a business broker because they are incompetant?
We hired a business broker to sell our business back in July and the contract ends July of 2008. The agent is incompetant and his broker is even worse! I want to know if we can get out of the contract with him. I don't see any clauses that will let us just cancel, but let me tell you what has happened. They found us a buyer that put $5,000 in escrow money down and got picked up by immigration 2 days before closing. I told the agent that I want to claim the money and because I'm licensed in Real Estate...he asked me if I could help him research because he has never done an escrow claim before and neither has his broker. I'm supposed to pay him $10,000 mind you for selling this business and he is asking ME to help him?? He is supposed to be this multi-milliong dollar seller...bull! He told me that his broker told us we should just forget about the money and move on and find another buyer. WHAT??? I HAD TO CALL ESCROW ATTORNEY MYSELF TO MAKE THE FLIPP'N CLAIM!! What the heck!!!
- Anonymous1 decade agoFavorite Answer
How long does the contract run? 180 days should be more than enough. You should tell the broker you want to cancel and are going to complain to your state license office if he doesn't.