The Cancellation Of Buyer Representation Agreement Form is essential when either party wishes to formally end their professional relationship in real estate transactions. This document is commonly used when buyers want to change agents, when the search for property is discontinued, or when there's mutual agreement to end the relationship. It provides legal protection for both parties by clearly defining the termination terms and addressing any pending matters. In the United States, this document must comply with state-specific real estate regulations and often requires proper documentation for real estate boards and brokerages.
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1. Identification of Parties: Names and details of buyer and real estate agent/broker representing the parties in the original agreement
2. Reference to Original Agreement: Details of the original buyer representation agreement being cancelled, including date of execution and key terms
3. Effective Date of Cancellation: Specific date when the cancellation becomes effective and the representation relationship terminates
4. Mutual Release: Statement releasing both parties from all obligations, duties, and responsibilities under the original agreement
5. Signatures: Signature blocks for all parties, including dates and notarization if required
1. Commission Provisions: Details about any outstanding commission obligations, protection period, or commission disputes resolution
2. Confidentiality Clause: Provisions regarding ongoing obligations for maintaining confidentiality of information shared during representation
3. Survival Clause: Specification of which obligations and rights survive the termination of the agreement
1. Original Agreement: Attached copy of the original buyer representation agreement being cancelled
2. Property Schedule: List of properties shown or discussed during representation period that may be subject to commission protection
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