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

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