Backing out of a wholesale contract

[Lemont Williams]

How would a formal cancellation of a contract look like ? I've let the seller know I wanted to back out due to inspection and he was fine with it but he wanted a formal cancelation today and I have no clue how that is about to look like. I looked up templates but they all about canceling with a broker or with it being in escrow and I don't even have it in escrow .?