The Real Estate Addendum Template serves as a crucial tool in U.S. real estate transactions when modifications to the original purchase agreement become necessary. This document is commonly used when parties need to address inspection findings, adjust purchase prices, modify closing dates, or add contingencies. The template ensures compliance with federal and state real estate laws while providing a standardized format for documenting changes. It's essential for maintaining clear communication and legal protection for all parties involved in the transaction.
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1. Property Identification: Detailed description of the property including address and legal description
2. Reference to Original Agreement: Citation of the original purchase agreement being modified
3. Modification Details: Specific changes or additions to the original agreement
4. Integration Clause: Statement that all other terms of original agreement remain in effect
5. Signatures: Execution block for all parties
1. Contingencies: Additional conditions that must be met before the addendum takes effect
2. Price Adjustments: Modifications to the original purchase price and payment terms
3. Timeline Modifications: Changes to closing dates, inspection periods, or other contractual deadlines
1. Schedule A - Property Details: Detailed property specifications and included items
2. Schedule B - Inspection Results: Findings from property inspections requiring action
3. Schedule C - Required Repairs: List of repairs agreed upon by parties
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