Creating a Cancelled Folder (Deal Falls Through)

Creating a Cancelled Folder (Deal Falls Through)



Listing Agent:

1. Click on the 3 dots to the right of the “INITIAL DOCS” folder. Click “RENAME”, rename folder to “CANCELLED CONTRACT” & hit the enter key.

2. Move the signed Release and Cancellation to the cancelled folder if it is not already in the folder: click on the R&C by holding the mouse key down and dragging it to the folder, release mouse – your document is now in the folder.

3. Move the “EMD Receipt” (if EMD was made) from the MID TRANSACTION DOCS folder to the cancelled folder following the instructions above.
      *EMD receipt must be uploaded if EMD is being returned as this is a FREC requirement.  If no EMD – skip this step.

4. Submit CANCELLED CONTRACT folder to the Compliance Team by clicking on “SUBMIT FOR REVIEW” in the upper right corner, check the box next to the cancelled folder & click “SUBMIT”.

4. Create a new “INITIAL DOCS” folder for the next contract:
- At top right of page click “ADD FOLDER”
- Click on the 3 dots and “RENAME” to rename the folder INITIAL DOCS

*If you are representing the buyer in the new contract you will need to add:
  *Dalton Wade Buyer Disclosure
  *Wire Fraud Prevention Notice
  *Energy Efficiency Brochure
  *ABA Disclosure – buyer must sign even if seller is not using Turner Title


Buyer Agent:

You do not need to create a CANCELLED folder.

- Upload the Release & Cancellation & submit for review
- Compliance will mark the folder “CANCELLED”
- Status of your loop will be changed to “TERMINATED”


*EMD receipt must be uploaded if EMD is being returned (FREC requirement).


No EMD

If buyer did not make the escrow deposit & no EMD is being returned a Release & Cancellation of Contract is not needed. It is good practice to fill it out & once signed, send to the title company. 

Please do not hesitate to reach out to our Support Team if  you have any questions or need assistance with any of the above:

Phone: 727-914-9174
Email:  support@daltonwade.com
Mon. – Fri. 9:00am – 7:00pm
Sat. & Sun. 12:00pm – 5:00pm


 



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