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A third (3rd) party financing addendum is attached to a sales contract that outlines the terms of a loan (e.g., conventional, FHA, VA) that is agreeable to the buyer in order to close on the property. The sales contract is usually contingent upon the buyer receiving the loan as detailed in the addendum.
Addenda must be sequential [ #1, #2, #3, etc.] especially when made a part of the Purchase Contract. An Addendum to a document other than the Purchase Agreement may be labeled as an Addendum for that particular document [Addendum #TDS, Addendum #SPQ, etc.]
A purchase agreement addendum, or ?amendment,? is added to a real estate purchase agreement to expand or amend the agreement's terms and conditions. The addendum must be signed by both buyer and seller to become in effect.
What is an Addendum To Purchase And Sale Agreement? An addendum to purchase and sale agreement is a kind of attachment to a real estate contract that adds new terms and conditions to the original contract. An addendum to purchase and sale agreement can be attached to a contract to modify the actual terms.
A purchase agreement addendum, or ?amendment,? is added to a real estate purchase agreement to expand or amend the agreement's terms and conditions. The addendum must be signed by both buyer and seller to become in effect.