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An Offer To Purchase Cancellation Letter is a crucial document used in England and Wales when a prospective buyer needs to formally withdraw their offer to purchase property. This document is commonly used when circumstances change during the pre-contract phase of a property transaction, before exchange of contracts. The letter provides clear documentation of the buyer's intention to withdraw from the transaction, protects the buyer's legal position, and can help facilitate the return of any deposit paid. It should clearly reference the original offer, property details, and basis for cancellation, ensuring all parties have formal notice of the withdrawal.
