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A real estate addendum modifies an original lease or purchase agreement. Items in the addendum could reflect a change in the agreed-upon price, what is included in the transfer of property, what improvements must be made before the home is paid for, or any other agreed-upon requests or responsibilities.
What is an example of an addendum?
A contract addendum is a post-contract attachment that modifies, alters, or changes some of the terms of a previously established contract. Typically, this adds something new to a preexisting document. Once all parties in a contract agree to an addendum, it becomes a part of the new contract.
What does addendum mean in real estate?
To avoid any uncertainty, and the possibility of a later dispute, we strongly encourage agents to make sure that all addenda attached to a contract are signed by all parties.
What is the addendum to the sale of buyers property?
This addendum is used when a buyer has to sell their property first, in order to perform in their buy contract on another property.
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Addendum for Coastal Area Property - TREC - Texas.gov
It is best to disclose it as early as possible but it must be disclosed in the contract, lease, or in another written document given to the other principal
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