Hello. I am under contract with a buyer to purchase our home in New Mexico. I stated in the contract that the "buyer has 5 days from the Date of Acceptance of the contract to provide me with a letter of pre-approval from the buyer's lender."
If the buyer does not provide me with this letter in the time allowed, am I allowed by law to cancel the contract?
Since I allowed 5 days for him to provide me with these papers, do I give him 5 business days? Or do I give him 5 days from the signing of the contract? We signed on Saturday, May 6.
Thank you for your help.
--RESantaFe

You need to read the contract for that as most will state whether it is 5 days or 5 business days. OTherwise, custom for that area would likely be looked at to determine interpretation unless parties agree to interpretation. Also, if there is a realtor involved, ask the realtor as they use form contracts in most cases.