Get the free ADDENDUM TO PURCHASE CONTRACT - Horita Realty LLC

ADDENDUM TO PURCHASE CONTRACT Number: Reviewed By: PB/BIC This ADDENDUM is made a part of the Contract Reference dated, by and between (BUYER), and (SELLER), for the property located at Tax Map Key

How to fill out addendum to purchase contract

How to fill out addendum to purchase contract:

1. Review the original purchase contract: Before filling out the addendum, carefully read and understand the terms and conditions of the original purchase contract. This will help you identify the specific details or changes you need to include in the addendum.
2. Identify the changes or additions: Determine the amendments or additions you want to make to the original purchase contract. This could include modifying the purchase price, adjusting the closing date, adding contingencies, or making changes to any other terms previously agreed upon.
3. Draft the addendum: Create a new document that clearly states the changes or additions you identified in step 2. Include a title such as "Addendum to Purchase Contract" followed by the date of the original contract. Begin the addendum by referencing the parties involved and their roles in the original purchase contract.
4. State the amendments: Clearly state the specific changes or additions you want to make to the original purchase contract. Be concise and use clear language to avoid any confusion or misunderstanding. Include detailed information such as revised terms, revised dates, or any additional clauses you wish to include.
5. Signatures and dates: Leave space for all parties involved to sign and date the addendum. It is essential to have the signatures of all parties on both the original purchase contract and the addendum to ensure the changes are legally binding.

Who needs addendum to purchase contract?

1. Buyers and sellers who want to modify the terms of the original purchase contract: If either the buyer or seller wishes to change or amend certain provisions of the original purchase contract, then an addendum is necessary. This allows both parties to negotiate and agree upon specific changes without having to create an entirely new contract.
2. Parties facing unforeseen circumstances or contingencies: In some cases, unexpected situations or events may arise that require adjustments to the original purchase contract. This could include issues with financing, property inspection results, or other external factors that were not anticipated during the initial agreement.
3. Individuals who want to add specific clauses or additional terms: Sometimes, buyers or sellers may wish to add additional clauses or terms to the original purchase contract. This could involve including contingencies, specifying repairs or inclusions/exclusions, or any other specific conditions that both parties agree upon.

In conclusion, anyone involved in a purchase contract who wants to make changes or additions to the original terms, whether due to unforeseen circumstances or desired modifications, may need to fill out an addendum to ensure clear communication and legal binding of the agreed-upon changes.

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What is addendum to purchase contract?

An addendum to a purchase contract is a document that modifies or adds to the terms of the original contract.

Who is required to file addendum to purchase contract?

Both parties involved in the purchase contract are typically required to file the addendum.

How to fill out addendum to purchase contract?

The addendum should be filled out with the specific changes or additions to the original contract, signed by both parties, and attached to the original contract.

What is the purpose of addendum to purchase contract?

The purpose of the addendum is to clarify, add, or modify the terms of the original purchase contract.

What information must be reported on addendum to purchase contract?

The addendum should include details of the changes being made to the original contract, along with the date and signatures of both parties.