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Ask Thomas Swartz Your Own Question
Thomas Swartz
Thomas Swartz, Lawyer
Category: Real Estate Law
Satisfied Customers: 3020
Experience:  Twenty one years experience as a lawyer in New York and New Jersey. Former Appellate Law Clerk.
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I have entered into "MUTUAL TERMINATION OF BROKERAGE

Customer Question

I have entered into "MUTUAL TERMINATION OF
BROKERAGE ENGAGEMENT AGREEMENT" with my real estate broker on June 09 and the termination is effective from Jun 10th.Can I enter into another agreement with a direct buyer on Jun 10th.?
Submitted: 5 months ago.
Category: Real Estate Law
Customer: replied 5 months ago.
I have entered into "MUTUAL TERMINATION OF
BROKERAGE ENGAGEMENT AGREEMENT" with my real estate broker on June 09th and the termination is effective from June 10th. The Protected Period under the Brokerage Engagement shall expressly survive the termination of the Brokerage Engagement - box is not checked(selected) in the agreement.Can I enter into another agreement with a direct buyer on Jun 10th.?
Customer: replied 5 months ago.
1. Broker and Client do hereby agree to mutually terminate the Brokerage Engagement Agreement effective as of the following date:
___________June 10,2016_________________________________ (“Termination Date”). After such date, Broker shall no longer perform brokerage
services on behalf of Client.Upon the mutual termination of the Agreement, the parties shall have no further rights or responsibilities to one another other than the
following which the parties agree shall expressly survive the termination of the Agreement. [Select all that apply. The boxes not marked
shall not be a part of the Agreement.]
 The Protected Period under the Brokerage Engagement shall expressly survive the termination of the Brokerage Engagement.
Expert:  Thomas Swartz replied 5 months ago.

Hello Customer,

Yes, I believe you can enter into contract with a buyer without having any liability for commissions to your prior broker. The Termination Agreement makes clear that the termination is effective on June 10, 2016. So anytime after that you can contract with a new buyer without having to pay commission to the broker. And the "Protected Period" box is not checked, on the agreement, so the broker would not be able to claim a commission under this "Protected Period."

Thomas

Customer: replied 5 months ago.
Hi Thomas
Expert:  Thomas Swartz replied 5 months ago.

Hello Customer,

Did you have an additional question?

Thomas

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