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Who signs the FHA amendatory clause? The buyer, co-buyer (if applicable), seller, buyer's agent, and seller's agent are all required to sign the FHA amendatory clause before the lender performs the necessary appraisal on the home.
An FHA/VA financing addendum is attached to a purchase contract to state that a buyer with FHA/VA financing can back out of the sale if the appraised property value is less than the asking price.
It contains additional terms and conditions that were not present in the original contract forms. An addendum can be used to modify or supplement the terms of the contract. It can be added to the contract at any time before the closing date, provided that both parties agree to the changes.
An addendum is an addition to a finished document, such as a contract. The most common addendum is an attachment or exhibit at the end of such a document. For example, a contract to manufacture widgets may have an addendum listing the specifications for said widgets.
An addendum in real estate transactions allows you to add terms to your contract before it is signed by both parties. Common addendums include contingencies such as home inspections or the sale of the buyer's house, as well as including certain items, like furniture.