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What Happens If My Current Transaction Cancels?
What Happens If My Current Transaction Cancels?

What Happens If My Current Transaction Cancels?

Updated over a week ago

If you have a property that is currently pending and it will be cancelled, all we need to change the status back to active in the MLS is the "Cancellation of Contract" signed by buyer and seller. Click here to upload your cancellation form and get your status changed back to active.

We know this is urgent and will change your status back to active the same day you submit the cancellation form, as long as the request is submitted to us before 4pm PST. If you are represented by Listed Simply, you will not need to take any action.

When does a seller have a right to cancel the C.A.R. Residential Purchase Agreement (RPA)?

  • If the buyer does not remove contingencies by the end of the time specified in Form RPA (See Paragraph 14D(1));

  • If the buyer does not meet specific contractual obligations (Eight obligations are specifically referenced in Paragraph 14D(2) of the RPA); OR

  • If the buyer does not close escrow as scheduled (See Paragraph 14G of Form RPA.)

Does the seller need the buyer’s consent to cancel?

The seller has the right to unilaterally cancel the contract if the procedure described above is followed and the buyer has failed to act in accordance with the contract. However, cancellation of escrow will ordinarily require mutual instructions from buyer and seller.

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