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 MoreDownload 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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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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How does a buyer’s breach impact the seller’s ability to collect on a monetary loss in practice?
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Avoid premature termination when purchase agreement objectives can be met by extending dates.
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Learn when a buyer or seller may exercise their right to cancel the purchase agreement and terminate the transaction.
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When is a buyer or seller entitled to exercise their right to cancel a purchase agreement and escrow instructions?
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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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June 2022 saw the most escrow cancellations since the 2020 pandemic disruption.
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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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The proper form and procedure for cancellation of a written agreement.
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What keeps your sales from closing?
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Form-of-the-week: Termination of Lease and Surrender Agreement – Form 587 Consider a tenant who...
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Form-of-the-week: Release and Cancellation of Employment Agreement – Form 121 A seller of real...
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