The Real Estate Addendum Form is a vital document used when parties need to make changes to an existing real estate contract without voiding the original agreement. Common applications include adjusting purchase prices, modifying closing dates, adding contingencies, or addressing inspection findings. Used throughout the United States, this document must adhere to both federal regulations and state-specific real estate laws. The form serves as a legally binding amendment to the original contract and typically requires signatures from all involved parties to take effect.
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1. Identification of Parties: Names and details of all parties involved in the original contract and addendum
2. Reference to Original Agreement: Clear identification of the original contract being modified, including date and parties
3. Purpose of Addendum: Clear statement of why the addendum is being created and what it modifies
4. Modified Terms: Specific changes, additions, or deletions to the original agreement
5. Integration Clause: Statement that all other terms of the original agreement remain in effect
6. Signatures: Signature blocks for all parties and dates of execution
1. Contingencies: Additional conditions that must be met before the addendum takes effect
2. Timeline Modifications: Changes to original contract deadlines or closing dates
3. Price Adjustments: Changes to the original purchase price and financial terms
4. Property Modifications: Changes related to property condition or features requiring attention
1. Schedule of Repairs: Detailed list of repairs to be completed with specifications and timelines
2. Modified Payment Schedule: Updated payment terms or schedules reflecting changes in the agreement
3. Property Modification Details: Specifications and drawings for agreed-upon property changes or improvements
4. Inspection Reports: Referenced inspection documents affecting the addendum terms and conditions
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