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How to back out of a contract if no earnest money has been deposited in escrow?

Question Details: I'm a realtor and I wrote an offer for a client yesterday, however the seller has not responded to our offer. No earnest money has been deposited in escrow and there is no signed contract by the sellers. My client found out that because he hasn't owned his house for 2 years, he would have to pay capital gains in order to make this purchase. How can we cancel this contract?

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