If you need to terminate a transaction, log in to reZEN, click My Transactions, find the transaction you want to terminate, click Edit Transaction, then Terminate Transaction.
Enter the reason for termination, then click Notify Broker. Your Broker will review the transaction to confirm all paperwork was submitted properly and approve the termination. The transaction will appear as "Termination Requested." Once the termination is approved, the transaction will move to the "Terminated" tab in "My Transactions"
Before You Terminate:
Before you terminate your deal in the system, please upload all required documents to your checklist. You will notice “req for termination” under the item. Please also upload the terminated contract to your Checklist.
How To Terminate A Transaction
Step 1: Login to reZEN, click My Transactions and find the transaction you want to terminate.
Step 2: Click Checklist. Review any items that are marked as Required for Termination and upload all documents.
Step 3: Click Edit Transaction. A module will pop up. Click Terminate Transaction at the bottom.
Step 4: A module will pop up. Enter the reason for termination, then click Notify Broker. You will see a confirmation message when this is complete. The status of your transaction will change to "Termination Requested" until your Broker approves.
- If you were the Seller's agent, the Listing will move back to Active.
- If you have a backup offer, you can put the listing under contract again.
- Please note: you will not be able to close on the deal until all termination paperwork is uploaded for the deal that fell through and the termination is approved by your Broker.
Step 5: Your Broker will review the transaction, confirm all paperwork was uploaded properly, and approve the termination.
Once the termination is approved by your Broker, the transaction will appear under the Terminated tab of My Transactions in reZEN.