Click here to download Adobe Reader for free. Colours In The Sky ft ShadyVox 5. 2023 www.thecalifornian.com. Examples include: 1) Deposit the earnest money deposit (or increased deposit) into escrow, 2) Provide the pre-qualification letter, 3) Deliver verification of down Before a seller can issue a cancellation under the RPA-CA, the seller is required to give the buyer some type of written notice either a (1) Notice to Buyer to Perform (Form NBP may be used) or (2) Demand to Close Escrow (Form DCE may be used). The CAR memo notes: "Many sellers and agents are impatient. YouTube creator who has gained fame for his RUSTAGE channel. The two and three day waiting periods are explicitly outlined in a residential purchase agreement, and therefore cannot be changed once the offer is signed. WebForm RPA-CA, Residential Purchase Agreement and Joint Escrow Instructions. And per the C.A.R. There are now separate forms for the Notice to Perform for Buyer (NBP) and Seller (NSP). This means that if a listing agent Waits until the closing date to send a demand to close, then the seller has to wait three more days after the close of escrow date in order to cancel. Form SDRD, 11/14: Seller Demand to Release Deposit. var path = 'hr' + 'ef' + '='; However, its important to remember that these notices cannot be sent earlier than 2 days for a notice to perform and 3 days for demand to close, that is the earliest. Songs lyrics, discography and videoclips by Rustage. Listen to music you'll love! JaCi Wallace, RE/MAX Gold3620 Fair Oaks Bl, Sacramento, CA 95864 | (916) 233-6759, Fair Housing | Privacy Policy | Do Not Sell My Personal Information | 00697006 2022 Elizabeth Weintraub. It is, after all, an authorized form, isn't it? endobj Webclose on time. Let The Colours Out 2. Review the site's security and confidentiality statements before using the site. Access to the "Patron" Rank on my discord which gives you access to the Patron exclusive chat Download English songs RUSTAGE is creating Music Videos and Other Content. Thank you. You can also download it, export it or print it out. Contractor does the work on the house and then I pay for the work. Sometimes it is sellers who become reluctant to see a transaction completed; and buyers have rights too. Contained inside the residential purchase agreement is verbage that basically says a seller can send a notice to perform to a buyer prior to the expiration of the contingency, but no more than two days prior to the expiration. (916) 966-2260. Locking Out This Chemistry 4. to the escrow transaction, shall be deemed a cancellation or termination of the underlying All sales on single forms are final. Ozzaworld], from the album Next Hokage (Naruto Rap) [feat. Use this application to request a lien or business transfers (bulk sale or liquor license) payoff. The technical storage or access that is used exclusively for statistical purposes. CHROMA by RUSTAGE, released 12 December 2015 1. Contact Bob at scbhunt@aol.com. The web pages currently in English on the FTB website are the official and accurate source for tax information and services we provide. to release funds on deposit in an escrow account as provided in subdivision (a) within Property ownership transfers from the seller to the buyer when the deed is date-stamped by the County Clerk. the funds are withheld in order to resolve a good faith dispute between a buyer and These pages do not include the Google translation application. WebAccess the entire library of over 400 RPI forms for your professional use FREE. Of course, there are still issues to be discussed. Sometimes I see real estate agents send a notice to perform if the buyer isnt closing on time. Please also be sure to include a forwarding address and instructions for the proceeds that will be available at closing. Webwe put in a deposit for a home on contingecy basis with a 72 hours notice, if they had a client. Play online or download to listen offline free - in HD audio, only on JioSaavn. now the agent from the home we put a deposit on wants us to sign a demand to close escrow document. Bob Hunt is a former director of the National Association of Realtors and is author of, Perhaps It's Time for Some RESPA Reminders, > Tax Free Exchange: A Valuable Alternative To A Home Sale, Saving for a Down Payment When You Live Paycheck-to-Paycheck. (2) Good faith dispute means a dispute in which the trier of fact finds that the party refusing to return Should You Do Your Own Plumbing And Electrical? If you have any issues or technical problems, contact that site for assistance. It can also be used double-time at 150 BPM. The SIP explains that the Addendum is intended to grant Seller a license to remain in possession of, and use, the Property after the Close of Escrow. (C.A.R. As a seller, Can I issue a demand to close escrow if I issued a notice to buyer to perform and it's within the 2-day period? WebA. With the current market, the best practice to ensure the ability to pursue breach claims is to make sure that the demand to close is timely delivered to preserve the rights of the buyer or seller. Bob Hunt is a former director of the National Association of Realtors and is author of Ethics at Work andReal Estate the Ethical Way. The NBP can be delivered no earlier than two days before that date. they don't yet have the money for the increased deposit that is due). ), Enzymes In The Digestive System And Their Functions, English Cocker Spaniel Puppies South Dakota, Veterinary Client Service Representative Job Description, Alternatives To Amazon For Computer Parts. endobj The way this plays out in real estate is with a contract that requires seller to deposit an executed deed to close and requires the buyer to deposit funds to close escrow. Hip-Hop/Rap songs and albums by Rustage, Mp3 Music )". A seller may cancel the purchase contract under the RPA-CA if the buyer, after first being served with a Notice to Buyer to Perform (NBP), fails to comply with certain provisions of the purchase agreement. The RPA is a generally well drafted form that is revised periodically. The duration of the song is 3:19. Ozzaworld] is an English language song and is sung by Rustage. Forgot Any differences created in the translation are not binding on the FTB and have no legal effect for compliance or enforcement purposes. MINATO RAP | "Yellow Flash" | RUSTAGE [Naruto Rap] AKATSUKI RAP CYPHER | RUSTAGE ft None Like Joshua, GameboyJones, Eddie Rath & More [Naruto Rap] NATSU RAP SONG Dragon Slayer RUSTAGE Ft Zach Boucher & Divide Music [Fairy Tail] ITACHI RAP | "Lies" | RUSTAGE ft Eddie Rath [Naruto Rap] MELIODAS RAP Dragon RUSTAGE [Seven Deadly Sins] Stream ad-free with Amazon Music Unlimited on mobile, desktop, and tablet. If the buyer doesn't close escrow within the time frame outlined in the document, the seller can cancel the escrow and move forward to retain the earnest deposit. However, what often happens is that neither party shows up and performs their obligations. with the court in which the action is filed and be discharged of further responsibility Other possibilities could be added, such as a contingency for short sale approval, or the purchase of another property. JT Music, Rustage & Dan Bull] The Stupendium. What good does it do to cancel a contract if the buyer can come back and possibly claim a right to buy?". Dust (Shigaraki Rap) [feat. the escrow agent is to deliver the subject of the escrow to the person specified in WebOnly after the escrow is cancelled, will the seller receive the earnest money deposit. As the court noted in Pittman buyers are reluctant to put money into escrow without assurance of performance as the buyers funds will be tied up. But one of the most frequently asked questions involves time frames relative to calendar dates. This form comes in two parts: one cancels the contract, the other cancels escrow and provides for disposition of the deposit money. Cami-Cat] song and explore 2 videos made by new and popular creators. So, suppose that all the buyer's contingencies have been removed, yet the buyer still does not put his money in and close according to the scheduled time. Find the latest tracks, albums, and images from rustage. the alternative is when the seller waits for the expiration of the contingency date to arrive, and then sends a notice to perform, which means the buyer has two additional days to remove their contingency in which the seller must wait. Password. var addy16c4e01f47577bea9e0f39b689421903 = 'scbhunt' + '@'; Fellow musician YouTubers Dan Bull and Rustage appear briefly as workers in "The Fine Print. Please also be sure to include a forwarding address and instructions for the proceeds that will be available at closing. Ozzaworld], was released in the year 2019. If the buyer has not conformed with a Notice to Perform, or has not closed after receiving a Demand to Close Escrow, the seller may then deliver a Cancellation of Contract (CC) to the buyer. Trivia. This is based on the right of the buyer and seller to cancel escrow instructions without The Castillos never accepted the mobile home. Once sent, it acts as the mechanism to confirm the sending partys notice of willingness to perform and solves the predicament presented in Pittman. What happens to deposit money if the buyer balks? The buyers agent was horrified. Sometimes it is because things have not gone as planned (e.g. The seller has the right to cancel, but prudence dictates that the seller should give the buyer notice first. x]nH}7Af`ZbxvGc1X@UQRH5WGq""E:ZW2[67M-lr7oo7uYhp}Y6yXSWT@TW(^:R^_IRJ|-?UMW|_2;Yys[j~g(Os=#5pK|W?^I?d?fGRKyeHa_h'tY_bv`h1dr5$G<4/xw|}!UKKFu1V(}k^|V_89DIL@m /I0"r*s_N? /2^=?R"Jb/cw. ", It goes on to say, "Escrow may require signatures from both parties to cancel the escrow, but the fact of an escrow being open does not affect the validity of the seller's cancellation." 2019 None Like Joshua 23-12-2019 Seven Deadly Sins (From "Seven Deadly Sins") 01. to the funds under the contract, if the purchase of the property is not completed Recent and Popular Articles From Our Blog: Reno, NV Office: Listen to music from rustage like Copy (Kakashi Rap), Bound by Blood & more. WebUpon the completion and close of the sale escrow, the escrow holder is the agent for each of the principals to deliver the statements, instruments, funds, documents, and title Escrow, title, or mortgage companies. It is relevant again to quote from the CAR memorandum: "Cancellation is a unilateral act regardless of whether there is an open escrow. This is different from a condition precedent which requires one act to occur prior to another act. Lets say a purchase contract expires because the buyer cant close on time for some reason. After paying the cost of the meal I then receive the meal. This is so that the Standard Forms committee can obtain feedback and do any last-minute "tweaking" prior to the actual release. Your real estate agent will have the proper form for you to sign. Is Spring Really the Best Time to Sell a House? If you have any questions related to the information contained in the translation, refer to the English version. You need JavaScript enabled to view it. Said she had never received a Demand to Close escrow in all of Your California Privacy Rights / Privacy Policy. FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. The contract addresses this situation and builds in a mechanism to attempt to compel Design & Development by Fireball Marketing, My Realty Times is your content-generating powerhouse, offering you a library of 20,000+ relevant SEO-driven articles, market reports, how-to's, industry news items, and agent features that is constantly updated with new content, and it's available to you TOTALLY FREE. contract to purchase and sell real property, unless the cancellation is specifically Our California purchase contract allows for such an inspection within 5 days of closing. The NBP form is separated into two sections. Without the use of the demand to close escrow and in a scenario when neither party performed, that answer is that neither party is correct. The demand to close ultimately preserves the right of the buyer to pursue its specific performance case and makes the pursuit of such matter a little more clear (for sake of clarity, the right to pursue a specific performance case is not lost because of the lack of the demand to close escrow, the analysis changes related to the relative obligations). This document tells the other side that the sender is ready, able, and willing to perform the obligations under the contract and that the receiving party is demanded to perform. Within 3 (three) or _____ Days After reciept of this Demand To Close Escrow but no earlier than the agreed upon Close Of Escrow date. The CAR memo provides the following list: (1) buyer failure to remove an applicable contingency; (2) buyer failure to deposit the earnest money, or an increased deposit; (3) funds for money deposited are not good; (4) buyer fails to deliver prequalification letter; (5) buyer fails to deliver verification of down payment and closing costs; (6) seller has reasonably disapproved of the verification of funds; (7) buyer fails to return the Transfer Disclosure Statement, Natural Hazard Disclosure, lead disclosures or other disclosures (if required); (8) buyer fails to sign a separate liquidated damages form for an increased deposit; (9) buyer fails to deliver notice of FHA or VA costs or terms (if applicable); and, finally, (10) buyer does not close escrow on time. in an escrow account. What happens if a buyer does not close escrow on time? The residential purchase agreement obligates the seller to deliver this notice to a buyer in order to correct their breach before cancelling. New California real estate forms and form revisions are released twice yearly, in April and October. 10775 Double R Blvd. They want the contract canceled yesterday. A: The California Residential Purchase Agreement and Joint Escrow Instructions (RPA-CA) contains several provisions that allow a seller to cancel the purchase contract. Click here to, Bob Hunt is a former director of the National Association of Realtors and is author of, Perhaps It's Time for Some RESPA Reminders, > 7 CRM Strategies To Turn Today's Clients Into Tomorrow's Referrals, Saving for a Down Payment When You Live Paycheck-to-Paycheck. Are there any provisions in the purchase agreement that would allow me to cancel the sale of my home? The existence of a good faith dispute shall be determined by the trier of fact. var addy_text16c4e01f47577bea9e0f39b689421903 = 'scbhunt' + '@' + 'aol' + '.' + 'com';document.getElementById('cloak16c4e01f47577bea9e0f39b689421903').innerHTML += ''+addy_text16c4e01f47577bea9e0f39b689421903+'<\/a>'; https://balboateam.com/wp-content/uploads/2017/10/LOGO_Small.png. WebThe California Purchase Contract is chock-full of deadlines: three days to place a deposit into escrow; 17 days to perform investigations; scheduling utilities, organizing closing, and many other important details. So what does this mean concurrent conditions exist when both parties are obligated to do something at the same time to complete a contract. WebSend demand to close escrow via email, link, or fax. The buyer can issue an Extension of Time Addendum but a seller does not have to agree. Gold River, CA 95670 And, again the buyer(s) and seller(s) must complete and sign a written cancellation of the purchase agreement including the mutual agreement as to the release of any deposit(s). Over Again (Pain Rap) [feat. Download our mobile app now. WebA demand for payment may be requested for a real estate transaction, bulk sale, or liquor license. Open it using the cloud-based editor and begin adjusting. WebForm DCE, Demand to Close Escrow. Tenant Wont Cooperate with Sale of Home. For forms and publications, visit the Forms and Publications search tool. for failure to return funds deposited in an escrow account by a buyer or seller, if Wrong Flow 6. In Pittman v. Canham (1992) the appellate court succinctly stated that: The failure of both parties to perform concurrent conditions during the time for performance results in a discharge of both parties duty to perform. Listen to your favorite songs from Rustage. You need to open the forms with Adobe Reader to use all the extended features. CAR directors and other interested parties usually get an early look at the director and committee meetings held prior to the release. @logan-wofford-889796529 fuck you. Buyers Failure to Close escrow on time: In addition, the seller can elect to cancel the purchase agreement when the buyer does not close escrow on time. Or, I hire a contractor to do work on my house. Is the Midwest the Next Hot Housing Market? A demand to close can be sent 3 days prior to the closing date. To revive your business, you must file one of the following forms: The contract addresses this situation and builds in a mechanism to attempt to compel timely closing of the transaction. What can the seller do? (g) Nothing in this section restricts the ability of an escrow holder to file an interpleader The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. account shall abrogate a cause of action for breach of a contractual obligation to Whatever the reason failure to close could have significant consequences. This one page document that is often not understood is the key. According to reports that CAR staff attorneys were receiving from the field, one of three things tend to happen when a buyer begins to stall and doesn't complete the steps to closing: First of all, although doing nothing is not always to be eschewed, in this case it might involve an agent's failure to fulfill his or her fiduciary duty to the client. if you have any questions about a notice to perform or a demand to close please feel welcome to email info@Balboateam.com, Main Office: 5256 S. Mission Rd. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law. The escrow company will require the buyer(s) and seller(s) to complete and sign a written cancellation of the purchase contract including the mutual agreement as to the release of any deposit(s). Should You Do Your Own Plumbing And Electrical? Ellensburg, WA 98926 at the time the escrow is created is to be occupied by the buyer. Subscribe to Elizabeth Weintraub's Blog via email, Elizabeth Weintraub Broker. fire it to good. If you are in escrow, ask your escrow, title, or mortgage company to complete the payoff request. We would like to show you a description here but the site wont allow us. Even the Highest Tech Business Operations Require a Human Touch. To get my meal, I must first pay the cost of the meal. A month after the close of escrow, Express received a demand from the Castillos's attorney not to close escrow. as to the right to the funds on deposit. WebDCE - Demand to Close Escrow $205.95 USD 4 interest-free installments or from $18.59/mo with View sample plans Quantity Add to cart Quick Overview: Used when a This is a pretty huge change over previous years because much of the purchase contract, up to this point, seems to favor the buyer in California, except for this portion. The residential purchase agreement obligates the seller to deliver this notice to a buyer in order to correct their breach before cancelling. Your business must be in good standing with the Secretary of State (SOS) to revive your business entity. A new form, Demand to Close Escrow (DCE), was introduced at the recent annual convention and meetings of the California Association of Realtors (CAR) held in Can be modified, but Ive noticed that and agents never do that. Fade Away 9. We cannot guarantee the accuracy of this translation and shall not be liable for any inaccurate information or changes in the page layout resulting from the translation application tool. What form to file. Form BDRD or SDRD). WebParagraphs 14C (1) and (2), and in Paragraph 14E of the CA-RPA. But real estate transactions are unique, in that to complete the transaction it requires the seller to sign a deed transferring title to the buyer and the buyer must tender the funds for payment. however, the people that were going to buy my home cancelled and the closing day of escrow they had requested was on 13th. All sales on single forms are final. Copyright 2023, Thomson Reuters. Certainly, getting a property under contract is important, but once that property is under contract, how does one insure that the transaction actually closes? 4 0 obj "$R{j w ,mbm=)%)H:buu"P.fjCZ&\j*y$F9_ YB}` k5 Alone In The Atmosphere 10. info@bpelaw.com The question is what happens next? the buyer's instructions to the escrow agent. Before Fame. we put Rustage songs only (If you want to add random projects go to tem of coding) Verse___:or do we?? The answer lies in the use of the demand to close escrow. If not, you can pay the balance yourself with our payment options. Impacted by California's recent winter storms? And of course, all parties should obtain legal advice and not rely on this Sacramento REALTORs observation because this REALTOR is not licensed to practice law. After that, the seller can then cancel after waiting the 2 days. Especially if you are the seller. Can the property be put on the market if escrow isn't cancelled? per month. In the state of California, a seller's Residential Purchase Agreement and Joint Escrow Instructions will set forth provisions that allow the seller the ability to cancel the contract in certain situations. Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. endstream endobj 430 0 obj <>stream Music Welcome Discord Patreon Shop Contact Home About Events Music Welcome Discord Patreon Shop Contact Contact. The Seller Demand to Release Deposit illustrates and points to paragraph 14G of the residential purchase contract, which also states a party who refuses to cooperate can be fined a $1,000 penalty, according to Civil Code. He launched his YouTube channel in September 2010. Not long ago we addressed the question, "What are the seller's rights when the buyer does not close escrow on time?" song and explore 0 The Cameo:. The buyer can issue an Extension of Time Addendum but a seller does not have to agree. Only after the time period has lapsed after delivery of the required form (2 days for NBP and 3 days for DCE) does a seller have a right to sign and issue a cancelation. Click here to read our COVID-19 statement and related updates on COVID-19 legal changes, A New Reality Temporary or Permanent Virtual Showings and Disclosures, Paycheck Protection Program Flexibility Act is Enacted, Impact to Credit Score After Filing Chapter 7 Bankruptcy, SBA Rolls Out Updated PPP Loan Forgiveness Application, Understanding the Home Equity Sales Contract Act 2020, Status Of Selected California State Operations re: COVID-19, COVID Update on Foreclosures and Evictions, Changes to the Fair Housing and Discrimination Advisory CAR Form, In a Season of Difficulty We Choose Gratitude, Cal/OSHA Issues New COVID Prevention Rule, Rain and the Prevalence of Failure to Disclose Claims, California Enacts COVID Tenant Relief Act (SB 91), Understanding the Trust Exception to Real Estate Disclosures, Help! Said taxes shall be processed after the close of this escrow pursuant to Section 4986 of the Revenue and Taxation Code, and your title company shall have no obligation or responsibility in connection therewith. Join. This should be a wakeup call to buyers agents and their buyers when lenders cant close on time and in accordance with the contract. These transactions fundamentally boil down to if you do this, I will do that. But that is not how real estate transactions work. His original raps composed about the popular manga series Naruto have helped him amass more than 140 million views. WTf)J\&mo|,5V\xr[~a(qrtzw@n[RApuR sS+)+@5HJ7%daSp]<5P2 ^=Jc06fS(c=wH0d`VeW*!p-rcV98uHPL:=#$?F%quoG|ru!_KORkrZpESext ? Naturally, that leads to finger-pointing by both parties. Prior to close of escrow, Buyer is to hand You a sufficient hazard insurance policy. Next Hokage (Naruto Rap) [feat. Under the law you would generally look at who caused the breach. 1{.>{.JmBXv]^fk ;Q \s(xtv? (3) Property means real property containing one to four residential units at least one of which info@bpelaw.com the agents go into hiding and fervently hope that escrow will close, the seller's agent will send a written demand to the buyer, usually via the buyer's agent, or. The document is beneficial to both. Revised December 2021 . That is why, a little over a year ago, the legal department of the California Association of Realtors (CAR) produced a memorandum titled, "How a Seller May Cancel a Purchase Agreement: Checklist and Q&A". The ten reasons listed are in a standard transaction. purchase and sell real property to ensure that all funds deposited into an escrow We do it, won't lose it, this music is our's We cruisin', keep movin', we shootin' for stars We do it, won't lose it, this music is our's We cruisin', keep movin' [Rustage:] 'Cause we're gonna stoke the fire and we're gonna bathe in flames Knowing that we chase desires, they are gonna know our names [Ace (Connor Quest):] Airlock ( Rap Remix ) ft Shwabadi, Sickness, RhymeFlow, Buffalo 3. If the LAST day for any act falls on a in an escrow account nor the acceptance of funds released from escrow, by any principal Webnot transform letter into payoff demand statement. stream I want my double double cheeseburger meal from In-N-Out. $1. Connor Quest!] The buyer's statement as to his or her intention to occupy one of the units is conclusive It is also important to note that the seller and buyer may cancel a purchase agreement by mutual consent. Contact Bob at scbhunt@aol.com. if this usually comes up when a buyers agent receives a notice to perform from the listing agent prior to the expiration of a contingency period. Examples include: 1) Deposit the earnest money deposit (or increased deposit) into escrow, 2) Provide the pre-qualification letter, 3) Deliver verification of down payment and closing costs, 4) Return a signed copy of the Real Estate Transfer Disclosure Statement, Natural Hazard Disclosure Statement, Federal Lead-Based Paint Disclosures/pamphlet or other required disclosures, and 5) Return a signed copy of a separate liquidated damages form for any increased deposit(s). Shwabadi & Connor Quest! https://codes.findlaw.com/ca/civil-code/civ-sect-1057-3/, Read this complete California Code, Civil Code - CIV 1057.3 on Westlaw, Law Firm Tests Whether It Can Sue Associate for 'Quiet Quitting', The Onion Joins Free-Speech Case Against Police as Amicus, Bumpy Road Ahead for All in Adoption of AI in the Legal Industry. The Closing Disclosure is a five-page form that describes the critical aspects of your mortgage loan, including purchase price, loan fees, interest rate, estimated real estate taxes, insurance, closing costs and other expenses. Form DCE, Demand to Close Escrow. Listen to Joestar (JoJo's Bizarre Adventure) [feat. And, sometimes, they stall the closing in an attempt to squeeze the seller for a further concession. A common question that I get asked is when can a seller send a notice to perform to a buyer. Escrow agents, joint control agents Buyers who want to cancel the purchase contract will use the Seller Notice to Perform form. Listen to top songs featuring Rustage on JioSaavn. He is the author of Real Estate the Ethical Way. Escrow, title, or mortgage companies. The Pros and Cons of Building a Custom Home, Ask the HOA Expert: Procedure For Voting In Person And Voting By Proxy, How to Be a World Class Time Blocking Expert. This means that if a buyer does not remove their contingencies in riding on the day of the expiration then the seller can cancel the transaction the following day. Cite this article: FindLaw.com - California Code, Civil Code - CIV 1057.3 - last updated January 01, 2019 Of course, if the buyer still has unsatisfied contingencies -- for example, he may not have removed the physical inspection contingency -- the seller must first give him a notice to remove the contingency before the seller will have a cancellation right. If the deposit is held by a third party, such as a title company or escrow company, all parties generally need to agree on its disposition or at least agree to cancel. hn0_e.w/*0`KU% Homes for Sale in Sacramento Valley and Foothills, Bio of Sacramento Realtor Elizabeth Weintraub, Reservations for Dining in Midtown Sacramento for Friday Night, Typing With One Hand After Rotator Cuff Surgery. From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times a must-read, and see, for anyone involved in Real Estate. WebA demand for payment may be requested for a real estate transaction, bulk sale, or liquor license. However, if the seller intends to cancel on a basis not stated in the purchase agreement, then the seller should consult with their attorney.