When Would You Issue a Notice to Perform?

You may never care about a notice to perform until you receive it.

I routinely close dozens of escrows in which I never prepare a Notice to Perform for either party. But sometimes, either a buyer or a seller is slow to perform or refuses to adhere to elements of the purchase contract. In California, for example, buyers have 17 days by contract default to remove contingencies. If the 17th day arrives and the buyer has not submitted a release of contingencies, the seller might have no choice but to give the buyer a Notice to Perform.

Sometimes I advise my buyers to submit a Notice to Perform to sellers to try to force sellers to meet the contractual obligations of the purchase contract. That doesn't make me a mean person, though . . . read more about Notice to Perform.

More Articles by Elizabeth Weintraub:

• Home Warranty Coverages
  
• How to Protect Your Earnest Money Deposit
  
• When Can a Home Buyer Move In?

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_{At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.}