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Contract withdrawal is a method to terminate negotiation, prevent future presentation and execution, or to record the contract's state of non-acceptance.
Withdrawn is a temporary Off-Market Status. This means that the listing is no longer being shown on the MLS, but an Active Contract still exists between the seller and Listing Agent. Consider Withdrawn to be a temporary Off-Market Status.
Contents Review the requirements outlined in the contract regarding notice of withdrawal. Consider any legal repercussions or implications of early withdrawal. Draft a formal letter of notice that includes the following: Reason for withdrawal. Date of notice. Intention to withdraw.
Once a contract exists, one party cannot simply withdraw from it on a whim, unless the terms of the contract allow them to.
Terminate resets the DOMs. Withdraw just pauses them.