Notice to Buyer to Perform
A notice from the seller demanding that the buyer perform a contractual obligation (such as removing contingencies or depositing funds) within a specified time period.
When Its Used
Issued when a buyer misses a deadline in the purchase agreement. Gives the buyer a final opportunity to perform before the seller may cancel.
Key Sections
Specific obligation to be performed; Deadline (typically 2-3 days); Consequences of non-performance; Reference to contract terms
Common Mistakes
Issuing before the actual deadline has passed; Incorrect deadline calculation; Not specifying exact performance required; Not allowing sufficient time
Pro Tip
Always verify the contractual deadline has actually passed before issuing. Keep accurate records of all dates. This is a precursor to potential cancellation.
