Washington  |  Real Estate Law

Legal Question

Asked on: 3/07/07, 11:38 pm

canceling real estate listing within 24 hrs.

I just signed a listing agreement today with a real estate agent to sell a house I had previously advertised myself. Tonight when I returned home I had a call from a prospective buyer that wants the house but has to wait until the day after tomorrow to make sure the sale of his place goes through (he is also a neighbor and I have known him for 10 years and is trustworthy). Even though I signed the listing agreement I don't I have 24 hours to cancel the contact? I know it doesn't say so, but isn't that the law? The prospective buyer is willing to give me the original asking price which is $5000.00 less than the price we are asking through the real estate listing, but can't do a formal offer until he is sure his sale is a done deal. Please help as I don't have much time if there is a 24 hour rule. Thanks.

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