It is possible to terminate the contract. It is possible if you make a written message to your seller. The agreement provides for a period of time that allows the buyer to terminate it. In addition, state real estate laws can help protect the buyer when necessary. Cancellation fees may be charged by a seller. The amount must be fixed in advance. The contract for the sale of real estate is an agreement that is used to divert the terms of residential real estate activity between a seller and a buyer. It only concerns buildings that have been completed. The agreement is signed when a seller wants to make a private sale, finance the buyer`s purchase or if the transaction is carried out between the members of a family. .