Deposit Now Due or Right to Purchase Forfeited

Business Letter

Dear …

Re: Balance of Deposit Due Purchase of: __( Description of property):

In accordance with the terms of our__(type of)__ Agreement dated __(date)__, the remaining balance of your deposit for purchase of __(description of property)__ was to be paid in full no later than __(date) __. As of today’s date, required payment of __($amount)__ has still not been received. Based on our recent discussion, please let this serve to confirm that __(I am /we are/Name of Organization is)__ willing to give you an extension of no longer than __(length of time)__ for this payment, making it due in full on __(date)__.

Please be forewarned, however, that if payment in the amount of __($amount)__ is not received by __(date)__, you will forfeit the right to purchase __(description of property)__ and will lose any partial payments already made towards the required deposit. It is with regret that __(I/we)__ have had to issue this notice to you, but under the circumstances, you have left __(me/us)__ no alternative. Consider this your final warning.

Yours truly,