December 21st, 2015 at 9:30 pm
Multiple Choice: Given that Christmas is on Friday, if a buyer’s 17-day contingency period ends on Monday, December 28, 2015, what is the first day that the seller can serve a 2-day Notice to Buyer to Perform (NBP)?
A.? December 23 because we don’t count weekends and holidays.
B.? December 24 because the seller cannot serve a NBP on a weekend or holiday.
C.? December 26 because the seller can serve the NBP up to 2 days beforehand.
D.? December 28 because the seller must wait for the contingency period to end before serving a NBP.
Answer: Answer A is wrong because you do include weekends and holidays when counting days. However, the last day to perform an act required by the contract cannot fall on a Saturday, Sunday, or legal holiday (see RPA paragraph 30F). Answer B is wrong because the RPA does not prohibit the seller from serving a NBP on a weekend or holiday. Answer C is correct and Answer D is wrong because the seller can serve a NBP up to 2 days before the expiration of the applicable time frame (see RPA paragraph 14E). Happy Holidays Everyone!
Copyright© 2015 Berkshire Hathaway HomeServices California Properties (BHHSCP). Any unauthorized reproduction or use of this material is strictly prohibited. All rights reserved. This information is believed accurate as of December 21, 2015. It is not intended as a substitute for legal advice in individual situations, and is not intended to nor does it create a standard of care for real estate professionals.
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