Addendum Contract

• Category: Small Business - Real Estate - Contracts
• State: Multi-State
• Control #: US-2053SB
• Format: Word; Rich Text

Description

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 An Addendum to Contract for the Sale and Purchase of Residential Real Estate is a document that is added to the original contract to modify existing terms or add new terms to the agreement. This document is usually used to clarify important details that were not previously addressed or to add additional terms that both parties have agreed to. There are several types of addendum to contract for the sale and purchase of residential real estate, including: • Financing Addendum: This is used to modify time frames, closing costs, and special financing terms as they relate to the purchase agreement. • Home Sale Contingency Addendum: This is used when the buyer is selling their current residence and needs certain conditions in order to complete the purchase. • Lead Paint Addendum: This is a federally mandated addendum used to disclose whether the property contains lead-based paint. • Home Inspection Addendum: This is used to modify the terms of the contract based on the findings of a home inspection. • Property Disclosure Addendum: This is used to disclose any known defects or problems with the property. • Radon Testing Addendum: This is used to disclose the results of a radon test on the property. • Pool & Spa Addendum: This is used to disclose the condition of a pool or spa on the property. • Seller's Disclosure Addendum: This is used to disclose any known defects or problems with the property that the seller is aware of. • Appraisal Addendum: This is used to modify the terms of the contract based on the findings of an appraisal. • Pest Inspection Addendum: This is used to disclose any pests or damage caused by pests on the property.

An Addendum to Contract for the Sale and Purchase of Residential Real Estate is a document that is added to the original contract to modify existing terms or add new terms to the agreement. This document is usually used to clarify important details that were not previously addressed or to add additional terms that both parties have agreed to. There are several types of addendum to contract for the sale and purchase of residential real estate, including: • Financing Addendum: This is used to modify time frames, closing costs, and special financing terms as they relate to the purchase agreement. • Home Sale Contingency Addendum: This is used when the buyer is selling their current residence and needs certain conditions in order to complete the purchase. • Lead Paint Addendum: This is a federally mandated addendum used to disclose whether the property contains lead-based paint. • Home Inspection Addendum: This is used to modify the terms of the contract based on the findings of a home inspection. • Property Disclosure Addendum: This is used to disclose any known defects or problems with the property. • Radon Testing Addendum: This is used to disclose the results of a radon test on the property. • Pool & Spa Addendum: This is used to disclose the condition of a pool or spa on the property. • Seller's Disclosure Addendum: This is used to disclose any known defects or problems with the property that the seller is aware of. • Appraisal Addendum: This is used to modify the terms of the contract based on the findings of an appraisal. • Pest Inspection Addendum: This is used to disclose any pests or damage caused by pests on the property.