When a contract is cancelled, agents must properly organize documents and submit them for compliance. The steps differ slightly depending on whether you represent the Listing Agent or Buyer Agent.
Rename the Initial Docs Folder
Click the 3 dots to the right of the INITIAL DOCS folder.
Select Rename, change the folder name to CANCELLED CONTRACT, and press Enter.
Move the Release & Cancellation
If not already in the folder, drag and drop the signed Release and Cancellation (R&C) form into the CANCELLED CONTRACT folder.
Move the EMD Receipt (If Applicable)
If the buyer made an escrow deposit, drag the EMD Receipt from the MID TRANSACTION DOCS folder into the CANCELLED CONTRACT folder.
⚠️ This is a FREC requirement whenever escrow is being returned for those in Florida.
If no EMD was made, skip this step.
Submit for Review
Click Submit for Review (upper right corner).
Check the box next to the CANCELLED CONTRACT folder.
Click Submit.
Prepare for the Next Contract
Create a new folder for the next transaction:
Click Add Folder (top right).
Rename the folder INITIAL DOCS.
If representing the buyer on the new contract, add the following forms:
Dalton Wade Buyer Disclosure
Wire Fraud Prevention Notice
Energy Efficiency Brochure
ABA Disclosure (buyer must sign even if the seller is not using Turner Title)
You do not need to create a CANCELLED CONTRACT folder.
Upload the Release & Cancellation into the loop and Submit for Review.
Compliance will mark the folder CANCELLED and update the loop status to TERMINATED.
⚠️ If an escrow deposit was made, the EMD Receipt must also be uploaded (FREC requirement for those in Florida).
If the buyer did not make the escrow deposit and no EMD is being returned, a signed Release & Cancellation is not strictly required.
However, it is good practice to complete one, obtain signatures, and send it to the title company.