Fees for withdrawal or termination of a representation agreement
Learn to protect your broker’s right to collect a fee when a seller-client removes their property from the market or cancels the representation agreement.
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Tag: cancellation
Form-of-the-Week: Termination of Lease & Surrender Agreement and Notice of Temporary Displacement — Forms 587 and 588
A property manager or landlord uses RPI Form 587 to mutually terminate a lease agreement and RPI Form 588 to notify a tenant of a temporary displacement due to invasive repairs or fumigation work that requires them to temporarily move out.
Read MoreNotice of Cancellation — Due to Contingency or Condition — RPI Form 183
Download the Form This form is used by a transaction agent when a sale is the subject of a contingency provision that has not been satisfied and the transaction is to be cancelled, to prepare a notice for their client to sign...
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Form-of-the-Week: Waiver of Contingency and Notice of Cancellation Due to Contingency — Forms 182 and 183
An agent uses RPI Forms 182 and 183 to waive contingencies and to cancel the transaction when a contingency is not satisfied.
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The breaching buyer’s responsibilities: Part 2
How does a buyer’s breach impact the seller’s ability to collect on a monetary loss in practice?
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Extending performance dates to attain purchase agreement objectives
Avoid premature termination when purchase agreement objectives can be met by extending dates.
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Time to perform as staging a cancellation
Learn when a buyer or seller may exercise their right to cancel the purchase agreement and terminate the transaction.
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Cancellation excuses further performance
When is a buyer or seller entitled to exercise their right to cancel a purchase agreement and escrow instructions?
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Surrender cancels the lease agreement
When a tenant materially breaches a lease agreement, the landlord may complete a surrender, in which the landlords accepts a return of possession from the tenant in exchange for cancelling the lease agreement.
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Failing to qualify, or just cold feet? More homebuyers backing out of deals in 2022
June 2022 saw the most escrow cancellations since the 2020 pandemic disruption.
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Mortgage Concepts: When can a borrower cancel FHA mortgage insurance?
Mortgage Concepts is a recurring video series covering best practices and compliance education for California mortgage loan originators. This video discusses when a borrower can cancel Federal Housing Administration (FHA) mortgage insurance.
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