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RED # REAL ESTATE PURCHASE ADDENDUM This Addendum is to be made part of, and incorporated into, the Real Estate Purchase Contract dated, 20 (the Contract “), between (“Seller) (“Purchase “)

How to fill out real estate purchase addendum

How to fill out a real estate purchase addendum:

1. Review the original purchase agreement: Before filling out the addendum, carefully read and understand the original purchase agreement for the real estate transaction.
2. Identify the changes or additions: Determine the specific changes or additional terms that you want to include in the addendum. This may involve modifying the purchase price, adjusting the closing date, adding contingencies, or addressing any other relevant matters.
3. Use clear and concise language: When completing the addendum, ensure that your language is clear, concise, and easily understandable. Avoid using legal jargon or complex terminology that may confuse the parties involved.
4. Include all necessary information: Provide all necessary details regarding the changes or additions. This may include specific dollar amounts, dates, names of parties involved, and any other pertinent information related to the amendments.
5. Sign and date the addendum: Once the addendum is filled out, ensure that all required parties sign and date the document. This will indicate their agreement and acceptance of the proposed changes or additions.

Who needs a real estate purchase addendum?

A real estate purchase addendum may be needed by various parties involved in a real estate transaction, including:

1. Buyers and sellers: Both buyers and sellers may need a purchase addendum to modify or add terms to the original purchase agreement. This can help address any changes in circumstances or negotiate specific conditions that were not initially agreed upon.
2. Real estate agents: Real estate agents may use a purchase addendum to amend the terms of the original agreement on behalf of their clients. They ensure that the necessary changes are made and properly documented.
3. Attorneys: Attorneys representing either the buyer or the seller may recommend the use of a purchase addendum to protect their client's interests and address any legal concerns that may arise during the transaction.
4. Lenders: Lenders may require a purchase addendum to be included in the agreement to reflect any changes or additional terms that impact the financing or mortgage conditions for the real estate transaction.

In summary, a real estate purchase addendum is typically utilized to modify or add terms to the original purchase agreement. It is important to fill it out accurately, use clear language, and ensure that all necessary parties sign and date the document to reflect their agreement. Various parties involved in the real estate transaction may need a purchase addendum to address specific changes or negotiate terms that were not initially agreed upon.

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