How to Give Notice Your Seller Is Terminating the Contract
Listing brokers and agents ask the best way for the seller to terminate a contract. The Texas Real Estate Commission recently approved Notice of Seller’s Termination of Contract (TAR 1950, TREC 50-0) for mandatory use by license holders if the seller has the right to terminate. The form gives notice to the buyer that the seller is terminating because the buyer failed to deliver earnest money within the time required or another reason identified in the contract or addendum. And remember to send any notices using the information provided in the Notices paragraph of the contract (Paragraph 20 or 21).