Get Appraisal Addendum Form

The Appraisal Addendum Form is a vital document used in real estate transactions that clarifies the terms surrounding property appraisals. This guide will provide you with step-by-step instructions to complete the form online effectively.

Follow the steps to complete the Appraisal Addendum Form.

1. Click ‘Get Form’ button to obtain the form and open it in the editing interface.
2. Begin by filling out the purchase and sale agreement date. This information is crucial as it ties the addendum to the respective real estate transaction.
3. Next, include the names of the buyer and seller in the designated spaces. Ensure that you accurately input their full names to avoid any potential disputes.
4. Provide the property address in the specified field. This information identifies the property that is subject to the appraisal.
5. Review section 1 regarding notice of low appraisal. It outlines the buyer's right to notify the seller if the appraisal value is less than the purchase price. Ensure that you understand the implications before proceeding.
6. In section 2, detail the seller's response options regarding the low appraisal. You will select the appropriate response that the seller intends to take.
7. Complete section 3 where the buyer must indicate their reply to the seller's response. This section allows the buyer to waive the appraisal contingency or terminate the agreement, so choose carefully.
8. Finally, sign and date the document where indicated for both the buyer and seller. Ensure that all parties have initialed where required to validate the agreement.
9. After completing the form, you can save changes, download, print, or share the document with the involved parties.

Complete your documents online efficiently and confidently.