MUTUAL CANCELLATION AGREEMENT
(Use only with Multi-Board 7.0)
With reference to the Real Estate Contract dated ________________, 20 ____ for the sale of the 1
Real Estate commonly known as , 2
entered into by , Seller 3
and , Buyer, 4
it is hereby agreed by and between the Parties that the Contract is null and void. Disbursement 5
of the Earnest Money is subject to the written direction of the Seller and Buyer only or as 6
otherwise provided by law and not upon the oral or written direction of any of the real estate 7
professionals involved in the transaction. 8
Escrowee is hereby authorized and directed to disburse the Earnest Money as follows: 9
$ ________________ to Buyer, at: ________________________________ , ______________________ 10
or as otherwise agreed to by the Parties.
Address City/State/Zip
11
$ ________________ to Seller, at: ________________________________ , ______________________ 12
or as otherwise agreed to by the Parties.
Address City/State/Zip
13
14
Buyer Signature Date Seller Signature Date 15
16
Buyer Signature Date Seller Signature Date 17
© 2018 Illinois Real Estate Lawyers Association. All rights reserved. Unauthorized duplication or alteration of this form or any portion thereof is prohibited. Official form available 18
at www.irela.org (website of Illinois Real Estate Lawyers Association). Approved by the following organizations, December 2018: Belvidere Board of REALTORS
®
∙ Chicago Association of 19
REALTORS
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∙ Chicago Bar Association ∙ DuPage County Bar Association ∙ Heartland REALTOR
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Organization ∙ Grundy County Bar Association ∙ Hometown Association of REALTORS
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∙ 20
Illinois Real Estate Lawyers Association ∙ Illini Valley Association of REALTORS
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∙ Kane County Bar Association ∙ Kankakee-Iroquois-Ford County Association of REALTORS
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∙ Mainstreet 21
Organization of REALTORS
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∙ McHenry County Bar Association ∙ North Shore-Barrington Association of REALTORS
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∙ North Suburban Bar Association ∙ Northwest Suburban Bar 22
Association ∙ Oak Park Area Association of REALTORS
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∙ REALTOR
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Association of the Fox Valley, Inc. ∙ Three Rivers Association of REALTORS ∙ Will County Bar Association ∙ 23
