It is possible to terminate the contract. This is possible if you communicate a written message to your seller. A clause is included in the agreement that allows the buyer to terminate it. In addition, state real estate laws can help protect the buyer when necessary. A seller may be charged a termination fee. The amount must be set in advance. The agreement is signed when a seller wants to make a private sale, will finance the purchase of the buyer or if the transaction is made between the family members. The contract can be used for all types of sale or purchase of real estate as long as the apartment has been previously owned, or is concluded until the end date of the agreement. The sale and sale agreement is an agreement on the terms of the residential real estate agreement between a seller and a buyer. It only applies to buildings that have been completed.