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Todays video addresses when to use the form Notice of Buyers Termination of Contract or more specifically, when not to use it. Ive received several questions and copies of Notice(s) when paragraph 8 of the form has been filled in by the Buyer. Paragraph 8 is Other. It is a little like Paragraph 11 Special Provisions of the Contract - statements get inserted which are often ambiguous, have unintended consequences or have no consequences. The Notice of Buyers Termination is only necessary when the Buyer is given the right to terminate the contract either under the option period or based on a contingency not being met such as Buyer Approval, Property Approval, delivery of Sellers Disclosure Notice, curing of title objections, Buyers sale of other property, delivery of Subdivision Information etc. These are rights which are clearly set forth in the contract giving the Buyer the opportunity to terminate the contract, receive a refund of the earnest money, and be freed of any fu
