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What is a Notice to Perform and How Do I Handle It?

What is a Notice to Perform and How Do I Handle It?Whether you are selling or buying a home, you hope the transaction goes smoothly and meets your wants and needs. But what happens if the seller does not follow through with the maintenance they promised to conduct in the contract? Or what happens if the buyer signs a contract to purchase the house and then is not able to secure a loan? In California, a notice to perform will help you pull out of the contract if the seller or buyer does not meet their obligations.

What is a notice to perform?

It enables the buyer or the seller to end the contract with the other party if the terms in the contract are not being met. In California, there are two forms, one called the “Notice to Buyer to Perform”, the other being the “Notice to Seller to Perform”.

From the seller to the buyer.

If the buyer is not holding up his or her end of the deal, a notice to perform may be the best option. Through a notice to perform, the seller can require the buyer to accomplish tasks such as: providing an earnest money deposit, demonstrating that they have or are in the process of being approved for a loan, supplying paperwork showing that the home is in escrow.

From the buyer to the seller.

If the seller is not cooperating while you are in the process of purchasing a home, a notice to the seller to perform is one option. First, you should talk to your realtor and have him or her help you and the seller to reach an understanding. The seller may just need a little more time. If that does not work, then a letter to perform may be required. This can force the seller to provide you with specific paperwork, whether that is an inspection report, insurance claim report, title report, or a disclosure statement. Or the seller could be required to make some home repairs. Whatever the case, if the seller fails to meet these requirements, the buyer may be able to cancel their contract.

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