In relation to a California Real Estate purchase transaction what is a "Notice to buyer to perform" form for?

Question

I am trying to cancel a sale of my condo because the buyer failed to make an ernest money deposit within 3 days of signing the purchase agreement. It has now been 8 days with still no deposit. My realtor says I need to sign a "Notice to buyer to perform" form that gives the buyer 24 hours to come up with the contingencies (ie. the deposit). Do I, as the seller, have to sign this form and give the buyer 24 hours? Hasn't the buyer failed to meet his obligation of providing an ernest money deposit within the 3 days and should I not be able to cancel the contract?

Answer 1

Apparently not. You should have been sending that notice on day 4.

Answer 2

Check your real estate purchase offer. Most of them in California give the buyer X days to come up with ernest money. If the buyer doesn't the contract is null and void.