When a contract is cancelled, agents must properly organize documents and submit them for compliance.
The steps differ slightly depending on whether you are the listing agent or buyer agent.
Click the three dots next to the Initial Docs folder
Select Rename
Change the name to Cancelled Contract
Upload or move the fully executed Release & Cancellation (R&C) form
Place it inside the Cancelled Contract folder
If an earnest money deposit (EMD) was made:
Upload or move the EMD receipt into the Cancelled Contract folder
Note:
Some states require documentation when escrow funds are being returned. Always follow your state and brokerage requirements.
If no EMD was made, you can skip this step.
Click Submit for Review (top right)
Select the Cancelled Contract folder
Click Submit
If a new buyer goes under contract on the same property:
Click Add Folder
Create a new Initial Docs folder
If you are also representing the buyer, include:
Buyer Disclosure
Wire Fraud Prevention Notice
Energy Efficiency Brochure (if applicable)
Affiliated Business Arrangement (ABA) Disclosure
Upload the signed Release & Cancellation (R&C) into the loop
Click Submit for Review
Compliance will:
Mark the loop as Cancelled/Terminated
Update the status accordingly
If an EMD was submitted:
Upload the EMD receipt along with the cancellation
This may be required depending on your state and brokerage policies.
If no deposit was submitted:
A Release & Cancellation may not always be required
However, it is strongly recommended to:
Complete the form
Obtain signatures
Provide it to the title company
This helps ensure all parties are properly released and reduces risk.
Always document the cancellation clearly
Keep all related documents in the loop
Submit promptly for compliance review
When in doubt, include more documentation rather than less