A Notice to Perform is a document used in conjunction with the purchase contract to help enforce an obligation by one of the parties. Once you issue the Notice to Perform, the party receiving the Notice to Perform has two days to perform a specific contractual obligation, if the contingency period ends prior to the end of those two days. If the party does not perform the specific action, the party issuing the Notice to Perform may cancel the agreement. If the contingency period ends more than those two days, the party issuing the Notice to Perform may not cancel until the contingency period ends if the receiving party still has not performed. Usually the Notice to perform is issued after a due date of a contractual obligation has passed, however, it can be issued prior to but it will never shorten the contingency period.
Articles in this section
- Homepie COVID-19 Notice to Users
- What is a transaction coordinator?
- How do I determine what my closing costs will be?
- Why Get Preapproved?
- How to Buy or Sell in the Name of an Entity (trust, LLC, or a corporation)
- Learn More about Identity Verification by Zenoo
- What does Homepie mean by "pre-selected independent service providers"?
- How do I withdraw/cancel/rescind an offer or counteroffer I have made?
- Homepie Copyright Policy