What paperwork do I need to Terminate A Contract During the Option Period?
Bummer it didn’t fly. No worries, follow these directions and Rock On.
1. When terminating a contract during the option period have the buyer check Box (1) of the NOTICE OF BUYER TERMINATING CONTRACT form. Click the picture to download the form [TAR 1902 or TREC No. 38-4]
2. Complete the RELEASE OF EARNEST MONEY [TAR 1902] and send the signed forms to the listing agent. After the seller signs the RELEASE OF EANEST MONEY form deliver the signed-by-all parties release to the title company. The title company should release the earnest money to the buyer. Click the picture to download the Release Of Earnest Money form.