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Agency reminder
How to Cancel A Contract without a Lawsuit
Who can give notice for cancellation? Can a Real Estate agent representing the buyer notify the seller of cancellation via email and will that “stop” the transaction and nullify contractual obligation?
The party (buyer) has to give notice, not the Real Estate agent. An email notice from the Real Estate agent is not legally binding. The notice must come from the purchasing party with the Notice of Cancellation form to follow or with the correspondence. This will officially stop the clock.
Simply text communicating is not legally binding and should only be used as supplemental confirmation for the receipt of forms and correspondence. In an age where we completely over communicate our personal lives on social media we shouldn’t be under communicating in business.
Any other communication other than release and cancellation leaves the clock ticking and leaves open a strong possibility for litigation down the road. It’s just not a gamble professionals should take. With Licenses and 10’s of thousands of dollars on the line.. it’s just not worth it.
Handle your cancellations timely, professionally and directly.