Does a signed cancellation void a real estate sale agreement?
I signed a Residential Contract for Sale, but realized I made a mistake about 30 minutes later. I contacted the company who said they would help me, so they created a Release and Cancellation of Contract for Sale and Purchase which I signed a few days later.
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Since both you and the company signed, that’s strong evidence of mutual intent to cancel. Even without a cancellation clause, the new document acts as an independent agreement to undo the first one. It sounds like you’re released from the initial contract.
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I have a real estate contract question.
Lexi, Chatbot
I understand you have a real estate contract question. Can you tell me what specific issue you’re facing with the contract?
I signed a Residential Contract for Sale, but realized I made a mistake about 30 minutes later. I contacted the company who said they would help me, so they created a Release and Cancellation of Contract for Sale and Purchase which I signed a few days later.
Lexi, Chatbot
Are you looking for advice on interpreting certain clauses in the contract or help with negotiating terms?
Interpreting certain clauses and whether the cancellation/release actually cancels the previous contract.
Lexi, Chatbot
Is there anything else the real estate lawyer should know before I connect you?
Yes.
TJ, Esq.
Hello! I’m TJ, an attorney. Thanks for reaching out. Are you available for an online chat right now?
I’m available.
TJ, Esq.
Generally, a “Release and Cancellation of Contract for Sale and Purchase” would cancel the original Residential Contract for Sale. It’s designed to terminate both parties’ obligations, making it as if the first contract never existed. Did anyone else sign the Release besides you? And did the original contract include a cancellation clause?
Yes, the buyer also signed. I don’t see any specific cancellation clause in the original.
TJ, Esq.
Since both you and the company signed, that’s strong evidence of mutual intent to cancel. Even without a cancellation clause, the new document acts as an independent agreement to undo the first one. It sounds like you’re released from the initial contract.
It’s the same person who signed both contracts. Does it matter that both contracts are dated 5/26, but I signed the cancellation today?
TJ, Esq.
That’s fine. The effective date doesn’t invalidate it as long as both parties intended to cancel when you signed. The metadata showing when you signed actually helps.
The cancellation specifies the type of contract being canceled as “Contract for Residential Sale and Purchase (CRSP),” but my first contract is titled “Real Estate Contract of Sale.” Is that a problem?
TJ, Esq.
Not necessarily. If both documents identify the same property address and parties, the title difference usually isn’t a dealbreaker. Courts focus on intent and substance, not minor labeling differences.
The cancellation lists five contract types. My original had an “AS-IS” paragraph, but the “AS-IS” box on the cancellation isn’t checked — only the CRSP box is.
TJ, Esq.
That’s a good catch. While it’s better if the exact type matched, the correct property and parties show the intent to cancel your deal. “CRSP” is often a general term, and with those matching details, it likely applies to your specific contract.
Okay, that clears things up. Thank you! This was a great service.
TJ, Esq.
You’re very welcome! Have a great night.
TJ, Esq.
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