- 1). If the seller has yet to accept your purchase offer by signing it, draft a letter to the seller or his agent detailing your intentions to withdraw or end your purchase offer. Have your attorney draft this letter to reflect state laws and the correct legal wording to protect your interests and secure an effective termination.
- 2). Fill out the correct contract termination forms if the seller has accepted your offer. Have your attorney secure the appropriate legal forms in your state to terminate the contract. These forms must accompany the letter you send to the seller or his agent if the seller accepts your offer with a signature, because you now have a legally-binding contract. Keep in mind that state law dictates the termination process and such laws vary considerably by state. If you have a real estate agent representing you, he can advise you of the laws in your state by seeking the assistance of an attorney. In most cases, you will lose any deposits placed towards the property if you choose to cancel at this stage of the purchasing process.
- 3). Review your letter and all contract termination forms for accuracy, sign the letter and the termination forms and send them by registered mail to the seller or his agent.
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