There is plenty of good obsevations in the other answers. However, I want to point out that the new version of the CAR contract went in to effect in April 2010. It provides for a default to a 48 hour notice to perform period. Also, when a contingency period ends on a holiday or weekend, the expiration date is extended until the end of the following business day. As always, consult your Realtor. He or she knows the situation best. Your circumstances could be different depending on the form of contract, or even the version of the contract that is being used. The first answer to any contractual question is this: what does the contract say? It seems simple, but it is often overlooked under pressure.
Arthur G. White
Cal DRE 01273793
Realtor, Broker-Associate, and Sales Manager
Red Oak Realty