Demand close escrow form 2025

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In California real estate transactions, a Notice to Perform, sometimes referred to as a Notice to Buyer to Perform (NBP) or Notice to Seller to Perform (NSP), is a formal notification sent from one party to another to fulfill their contractual obligations within a specific timeframe.
A notice to perform is usually only used if one party wants to cancel a deal because their requests arent met. Sellers might demand that buyers perform because they dont want to drag out an escrow, only to find out the buyers were never going to close.
Step Three: Complete the Notice to Perform (or DCE). The NBP (or Demand to Close Escrow) must be correctly filled out indicating what the buyer has failed to do, and the seller must sign it.
This typically is a set time after signing for both parties to have an attorney review the agreement. If either side decides during this period that they want to cancel the sale, they typically can do so without penalty.
In California, dual agency may mean designated agency (i.e., two separate agents are involved, each representing their own party). Its best to ask your brokerage about the details of the arrangement to have clarity. Why? Because while designated agency can come with some risks, dual agency is never a good idea.
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The document is a formal Demand to Close Escrow, outlining the obligations of both the Seller and Buyer under a Residential Purchase Agreement. It specifies the timeline for closing escrow, including options for both parties to demand closure within a set number of days or by a specific date.

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