I'd like share a little more info about the Release:

 

Release and Cancellation of Contract: What Does the Law Say? | Florida Realtors

 

 

If there was no escrow deposited then, you should be able to save a copy of your written notice to cancel, probably email.  However, a lender may require a release to show there is not dispute, freeing the buyer is free to obtain a loan on something else.

 

From the Dalton Wade compliance perspective, we think is adds comfort to show all parties agree and we strongly recommend it.  When we see the Release and Cancellation, then we will mark the folder as cancelled, so we think it is always better to get one and to submit..  As soon as we see the signed Release and Cancellation, then we stop looking at the details, but you do want a release for your client. 

 

You  can reuse the Wire Fraud, DW Buyer Disclosure and Energy Brochure for your net transaction with this buyer.

 

Here is how to find the release:

 

1. Go to your Initial or Mid Transaction Docs folder (depending on time frame--in this case initial
2. Click add document (to the right of the folder name)
3. Click templates
4. Scroll the down the list of folders on the left to Common Addenda
5. Click  Common Addenda
6. Form is named: Release and Cancellation of Contract - RC-4
7. Click the checkbox next to the folder name
8. Click copy