Notice Of Sellers Termination Of Contract {50-0}

TREC No. 50-0 - NOTICE OF SELLER’S TERMINATION OF CONTRACT. This form promulgated by the Texas Real Estate Commission (TREC), is a form used by a seller to formally terminate a real estate sales contract. This notice applies to the contract for the sale of a specific property and must identify the property’s street address and city, as well as the names of both the seller and the buyer. The form allows the seller to specify the reason for the termination, such as the buyer's failure to deliver the earnest money within the time required under Paragraph 5 of the contract, or for another reason outlined in a specific paragraph of the contract or an attached addendum. The seller must check the applicable reason and may provide additional explanation if selecting “Other.” The form emphasizes that this notice does not constitute an election of remedies, and that the release of earnest money is governed separately by the contract terms. Sellers are advised to consult an attorney before signing, as TREC rules prohibit real estate license holders from offering legal advice. www.FormsWorkflow.com