The Real Estate Contract Addendum Form is essential when parties need to modify terms of an existing real estate agreement in the United States. This document is commonly used when circumstances change after the initial contract signing, such as inspection findings, appraisal results, or closing date adjustments. The addendum must comply with both federal and state real estate laws and becomes legally binding once all parties sign. It's crucial for maintaining clear communication and legal protection for all parties involved in the real estate transaction.
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1. Original Contract Reference: Identifies the original contract being modified, including date and parties
2. Parties: Names and details of all parties involved in the transaction
3. Purpose of Addendum: Clear statement of what is being modified or added to the original contract
4. Modifications: Specific changes or additions to the original contract
5. Integration Clause: Statement that all other terms of original contract remain in effect
6. Signatures: Execution block for all parties and dates
1. Contingencies: Additional conditions that must be met, used when new conditions are being added to the original agreement
2. Timeline Modifications: Changes to original contract deadlines, used when adjusting closing dates or inspection periods
3. Price Adjustments: Changes to original purchase price, used when modifying the purchase price or payment terms
1. Schedule A - Property Description: Updated property details if being modified from original contract
2. Schedule B - Additional Terms: Detailed explanation of new terms being added
3. Schedule C - Modified Timeline: Updated timeline of key dates and deadlines
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