How to Cancel a Real Estate Contract the Right Way - Lawyer explains how to terminate a purchase.

It can be panic-inducing when you realize that you want to cancel your real estate contract - especially if you're in the thick of things and don't know how to go about it. In this video, I'll walk you through the steps of cancelling a real estate contract the right way as a Buyer and as a Seller, and any consequences that you should be aware of.
I have had Sellers who accidentally ended up under contract with 2 separate buyers because they never actually got the signed termination agreement back from the first party. This can be really tricky to fix, especially if there was a misunderstanding about whether the first buyer actually wanted to cancel. 😬 To avoid disputes, make sure the termination agreement is signed by all parties.
00:00 - Intro
00:58 - Who can terminate?
01:50 - Sellers
05:22 - Buyers
06:58 - Mutual Agreements
07:45 - Consequences
08:32 - Closing Advice

[@michaelquintino3167]

Thank you for the info.. Very important not only to complete a deal the right way, But also to back out of deals Properly. Too many sellers/ wholesalers Not doing their due diligence. And getting Themselves in a pickle with those who know their stuff.

[@ghostrider825]

Say if your a seller before the closing date as a seller decides not to sell and they the buyer can keep their money . They waste time suing the seller and seller file bankruptcy! Thanks

[@jh9391]

It's no fun for the buyer either. 😭