What to be included writing contract termination letter
A contract termination letter is a letter which indicates, one party wishes to end the agreement. A real estate sale is initiated by an offer from the buyer to the seller and it is in a written form, backed by a monetary deposit. If the seller accepts the offer, the contract legally binds the buyer and seller. The terms included in the contract remains, the offer amount, name of parties, legal description and date of closing. It is very important to understand the terms and conditions given in the contract. It becomes necessary to terminate the contract, if you don’t follow the terms and conditions strictly. A real estate contract termination letter is written in a situation when the agreement with real estate is terminated. The letter conveys, termination related messages and the reason of termination between two parties.
Tips to draft contract termination letter
The letter has to be drafted carefully to avoid any mistakes which may cause problems in future. It is very important to write a letter with the proper method of termination set forth in the original contract. While drafting such letter, people may use an angry tone or language. After all termination, means a party showing dissatisfaction with an agreement made by the opposing party. However, it is very important to use a polite tone while drafting such letters. It may be possible, with the party you are terminating the agreement, may need to enter with future agreement. For this reason, it is advisable to use a polite tone constructing such letters. A friendly tone can make the other party to re-negotiate with the agreement.