An instrument modifying or rescinding a contract should identify the contract with certainty. The parts of the contract to be changed should be clearly expressed, and the change itself clearly set forth. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
North Dakota Addendum to Contract for the Price, Sale and Purchase of Residential Real Estate serves as an extension or modification to the original contract, specifically when buying or selling residential real estate properties in North Dakota. This addendum contains important clauses and provisions that are specific to North Dakota's real estate laws and regulations, ensuring compliance and protection for both the buyer and seller. Keywords: North Dakota, addendum, contract, price, sale, purchase, residential real estate, properties, clauses, provisions, compliance, buyer, seller. Types of North Dakota Addendum to Contract for the Price, Sale and Purchase of Residential Real Estate: 1. North Dakota Disclosure Addendum: This addendum outlines the required disclosures that the seller must make to the buyer regarding the condition, hazards, or any other significant details about the property. It ensures transparency and helps the buyer make an informed decision. 2. North Dakota Financing Addendum: This addendum focuses on the financial aspects of the agreement, including the financing terms, loan contingencies, and any other specific provisions related to mortgage approval, interest rates, or down payment requirements. 3. North Dakota Inspection Addendum: The inspection addendum addresses the procedures for property inspections carried out by a professional home inspector. It details the buyer's rights to inspect the property and negotiate repairs/replacements based on the inspection report. 4. North Dakota Appraisal Addendum: This addendum highlights the involvement of a licensed appraiser to determine the fair market value of the property. It establishes the terms and conditions for conducting the appraisal and the actions to be taken in case the appraisal value does not meet the agreed-upon price. 5. North Dakota Title Addendum: The title addendum ensures that the title of the property is clear and marketable by addressing any potential liens, encumbrances, or defects. It may include provisions for title insurance and outlines the responsibilities of both parties regarding the resolution of any title-related issues. 6. North Dakota Closing Addendum: This addendum sets forth the details of the closing process, including the location, date, and time of the closing. It specifies the required documents, such as the deed, seller's affidavit, and buyer's funds, along with information regarding the distribution of closing costs. These are some common types of North Dakota Addendum to Contract for the Price, Sale, and Purchase of Residential Real Estate. It is always advisable to consult with a real estate attorney or professional to ensure accuracy and compliance with North Dakota's specific laws and regulations.
