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Options when selling the house

Discussion in 'Security Alarms' started by [email protected], Aug 25, 2006.

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  1. Guest

    We are selling our house, which we have installed a secruity alarm
    system. By the time the sale closes, we will still have 3 years left on
    the contract. What are our options? Ask the buyers to pick up the
    contract? Can we cancel the contract without penalty? Thanks
     
  2. Don

    Don Guest

    the company probably has a buyout clause. check your contract. or check
    with your alarm provider to see what they say.
     
  3. Crash Gordon

    Crash Gordon Guest

    Depends on the alarmco, I let people off all the time - as a result I get
    them in the new house too. It's a crap shoot with the big guys.
    You cannot sell the contract to the new buyer though, but you may be able to
    get off the hook if they will agree to sign with your existing company. Be
    prepared for a moderate run-around if you're with a big alarmco.




    | We are selling our house, which we have installed a secruity alarm
    | system. By the time the sale closes, we will still have 3 years left on
    | the contract. What are our options? Ask the buyers to pick up the
    | contract? Can we cancel the contract without penalty? Thanks
    |
     
  4. Bob Worthy

    Bob Worthy Guest

    What are the terms of the agreement? Is there a cancellation clause? Off the
    bat, if it is like most agreements, if the new home owner doesn't pick it
    up, which is not always an option due to credit scores etc, or you
    don't/can't transfer the service to your new home, you are obligated to pay
    off the remainder of the agreement. You did agree to pay for whatever the
    terms of the agreement are. Depending on the company, you may be able to
    negotiate the remainder down to whatever their profit would be for the
    remainding time since they are not actually having to provide the service. A
    court will usually favor that direction for both parties. The company is
    entitled to their lost profit. With all that being said, don't do anything
    without talking to your legal counsel first. We are not attorneys here.
     
  5. Depends on several factors.
    What is the alarm company's name, and city/state?
    May have helpful info for you.
     
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