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In this video, Sherry Roberts discusses the process of creating an addendum to a contract, specifically in the context of handling repairs identified during an inspection, like replacing an electrical panel or addressing fascia board rot. Instead of asking the seller to complete repairs—which can be complicated due to the need for receipts and the unknown quality of repairs—Sherry suggests requesting that the seller provide a credit to the buyer towards their closing costs. For example, if a buyer’s closing costs total $10,000, a credit would reduce their out-of-pocket expense to $7,000, benefiting the buyer financially. The video then transitions into the steps to prepare the addendum.
