Michigan Sample Purchase Agreement with addendum and exhibits between PRAC, Ltd., and PAC Rim Holding Corp.
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How to fill out Sample Purchase Agreement With Addendum And Exhibits Between PRAC, Ltd., And PAC Rim Holding Corp.?
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FAQ
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.
Common addendums include contingencies such as home inspections or the sale of the buyer's house, as well as including certain items, like furniture.
A contract addendum is a post-contract attachment that modifies, alters, or totally changes some of the terms of a previously established contract. Typically, this adds something new to a preexisting document. Once all parties named in a contract agree to an addendum, it becomes a part of the new contract.
While an amendment alters the core terms of the contract, an addendum provides supplementary information without changing the original content.
The addendum is essentially a document that outlines any changes or modifications to the original purchase agreement. It is important for both parties to review and agree to any changes so that they are both protected in the event of a dispute.