The Cancellation Of Buyer Representation Agreement Form is essential when a buyer wishes to formally end their professional relationship with a real estate representative in England and Wales. This document becomes necessary when either party wishes to terminate the representation before its natural conclusion, when the buyer's needs have changed, or when the representation is no longer beneficial to either party. It ensures compliance with relevant legislation including the Consumer Rights Act 2015 and Estate Agents Act 1979, while protecting both parties' interests by clearly defining the termination terms and any surviving obligations.
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1. Parties: Identification of the buyer and the real estate agent/broker whose representation agreement is being cancelled
2. Background: Reference to the original buyer representation agreement and its date
3. Definitions: Key terms used in the cancellation agreement
4. Effective Date of Cancellation: Specific date when the representation agreement will terminate
5. Mutual Release: Statement releasing both parties from future obligations under the original agreement
6. Outstanding Obligations: Description of any remaining duties or payments that survive cancellation
7. Execution: Signature blocks for all parties
1. Commission Provisions: Details of any commission arrangements if property was shown or offered during the representation period
2. Protection Period: Terms regarding any ongoing protection period for properties shown during the representation
3. Confidentiality: Ongoing obligations regarding confidential information shared during the representation
4. Dispute Resolution: Process for resolving any future disputes related to the cancelled agreement
1. Schedule of Shown Properties: List of properties shown during representation period
2. Schedule of Incurred Expenses: Itemized list of any expenses to be settled between the parties
3. Original Agreement: Copy of the original buyer representation agreement being cancelled
4. Proof of Service: Documentation showing proper delivery of cancellation notice
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