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An addendum is an addition to a finished document, such as a contract. The most common addendum is an attachment or exhibit at the end of such a document. For example, a contract to manufacture widgets may have an addendum listing the specifications for said widgets.
As discussed above, a purchase agreement should contain buyer and seller information, a legal description of the property, closing dates, earnest money deposit amounts, contingencies and other important information for the sale.
Occasionally, an addendum is also used to amend a rider. This page provides downloadable copies of standard and negotiated instruments, including: Fannie Mae/Freddie Mac Uniform Instruments.
Buyer contingencies addenda. Buyer contingencies are the most common addenda, according to Justin Ostow, a top real estate agent in Tampa, Florida, who completes 10% more sales than the average agent. Contingencies dictate certain conditions which must be met for the contract to go through.
The sale contract is the most common type of real estate agreement and will usually specify the details regarding the purchase of the property. The contract strictly needs the approval and signature of both the buyer and seller.

People also ask

Most purchase agreements in real estate are contingent on two items - The home inspection and mortgage financing contingencies.
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.
Cash back on purchase transaction Mortgages The Borrower may receive cash back, or a principal curtailment may be made, only as a result of the following: Reimbursement for the overpayment of costs, fees and charges paid by the Borrower in connection with the purchase transaction Mortgage.

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