Real estate transactions involve a lot of paperwork and tasks for both the buyer and seller. It’s not uncommon for one of the parties to get bogged down in these tasks, or to forget, fail, or refuse to provide needed documents. In these situations, the other party in the transaction may decide it’s in their best interests to issue a notice to perform to the other party, in order to spur them back into action.
In my latest article, I discuss the “notice to perform covenant or quit,” and situations in which it may be issued by either the buyer or seller. Whichever party you are to a real estate transaction, it is important to take this formal notice seriously to avoid putting your transaction at risk of cancellation. Click here to read What is a notice to perform in a real estate transaction?