How Do You Cancel A Purchase Agreement?
How to Cancel a Purchase Agreement Wednesday December 13, 2006 Here’s what agents and brokers don’t want clients to know: contracts are not always 100% binding, even if the agent tells you that you can’t cancel the agreements. There are often ways to break them. Listing agreements, purchase contracts, buyer’s broker agreements, a good lawyer can help you get out of almost any of them. What an agent also won’t tell you is that calling a real estate lawyer isn’t the only way to cancel a purchase agreement. Some of your cancellation rights are contained in the document itself. Other methods aren’t so cut and dry, but it still pays to know your rights, what is customary for your locale and what you can do to cancel a deal gone south. • About Buyer Pos
Buying a product is easy to do. Exercise care when making purchases to know your rights as a consumer if you need to return the items for whatever reasons. Take the time to read the fine print prior to making the purchase and ask questions if you’re unsure about a company’s return policy. Follow these guidelines when you decide to cancel a purchase agreement. Decide within 3 business days if you want to cancel a purchase agreement of any item with a value of $25 or more. This is the period you have according to the Federal Trade Commission. Your right to cancel the agreement and get a complete refund expires after the third business day. Review the copy of the cancellation papers that you should have received after the sale to determine what specific address and mailing instructions they require for voiding a sale. Sign and date the form provided for cancelling the purchase agreement. When mailing the form, make sure that the date stamped by the post office is prior to the end of the t
