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1. Parties: Identification of the Buyer(s) and Seller(s) with their full legal names and addresses
2. Background: Details of the original Purchase Agreement including date of execution, property details, and purchase price
3. Definitions: Key terms used in the cancellation form including 'Agreement', 'Property', 'Deposit', 'Effective Date of Cancellation'
4. Notice of Cancellation: Clear statement of the buyer's intention to cancel the Purchase Agreement
5. Basis for Cancellation: Specific grounds or reasons for the cancellation, including any applicable contract conditions or legal provisions
6. Deposit Treatment: Details regarding the return or forfeiture of any deposits paid, including timeline and method of return
7. Mutual Release: Statement releasing both parties from obligations under the original Purchase Agreement
8. Acknowledgment: Confirmation that both parties understand the implications of the cancellation
9. Execution: Signature blocks for all parties and witnesses
1. Conditional Cancellation: Used when the cancellation is subject to specific conditions being met
2. Costs and Expenses: Include when there are specific agreements about who bears the costs related to the cancelled transaction
3. Survival Provisions: Used when certain provisions of the original agreement need to survive the cancellation
4. Dispute Resolution: Include when parties want to specify how potential disputes about the cancellation will be handled
5. Third Party Rights: Include when the cancellation affects rights of third parties such as real estate agents or mortgage providers
6. Property Inspection Findings: Used when cancellation is based on property inspection results
7. Financing Contingency: Include when cancellation is due to failure to obtain financing
1. Schedule A - Original Purchase Agreement: Copy or reference to the original Purchase Agreement being cancelled
2. Schedule B - Supporting Documentation: Any relevant documentation supporting the basis for cancellation (inspection reports, financing denial letters, etc.)
3. Schedule C - Deposit Receipt: Documentation of deposits paid and held in trust
4. Schedule D - Cancellation Timeline: Timeline for completing all aspects of the cancellation process
5. Appendix 1 - Proof of Notice: Documentation showing proper notice was given according to the original agreement's terms
6. Appendix 2 - Calculation of Costs: Detailed breakdown of any costs or expenses related to the cancellation
Original Purchase Agreement
Property
Buyer
Seller
Deposit
Effective Date
Cancellation Date
Closing Date
Purchase Price
Escrow Agent
Deposit Holder
Real Estate Agent
Broker of Record
Conditions Precedent
Notice Period
Business Day
Cancellation Notice
Supporting Documentation
Release of Obligations
Mutual Release
Property Title
Contract Deposit
Additional Deposit
Inspection Period
Financing Condition
Cancellation Fee
Due Diligence
Material Defect
Force Majeure
Property Description
Notice of Cancellation
Deposit Return
Mutual Release
Representations and Warranties
Rights and Obligations
Termination Effects
Dispute Resolution
Governing Law
Severability
Entire Agreement
Further Assurance
Costs and Expenses
Notices
Force Majeure
Indemnification
Survival
Acknowledgment
Execution
Time of Essence
Assignment
Amendment
Waiver
Counterparts
Real Estate
Property Development
Legal Services
Financial Services
Banking
Insurance
Property Management
Construction
Property Investment
Professional Services
Legal
Real Estate Operations
Compliance
Contract Administration
Property Management
Transaction Processing
Risk Management
Customer Relations
Document Control
Sales Operations
Real Estate Agent
Real Estate Broker
Property Lawyer
Conveyancer
Legal Counsel
Property Manager
Real Estate Transaction Coordinator
Compliance Officer
Contract Administrator
Real Estate Operations Manager
Property Developer
Mortgage Advisor
Real Estate Investment Manager
Legal Administrator
Title Officer
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