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RESIDENTIAL USE ADDENDUM TO COMMERCIAL AGREEMENT OF SALE - parealtor

RESIDENTIAL USE ADDENDUM TO COMMERCIAL AGREEMENT OF SALE - parealtor 2025

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The document is a Residential Use Addendum to a Commercial Agreement of Sale, specifically designed for the transfer of 1-4 residential units. It outlines the responsibilities and disclosures required by sellers regarding lead-based paint hazards, radon presence, and home inspections, particularly for properties built before 1978. The addendum includes sections for seller and buyer acknowledgments, risk assessments, and inspection contingencies, as well as legal notices related to real estate transactions in Pennsylvania.

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Click ‘Get Form’ to open it in the editor.
Begin by filling in the property details, including the address and any relevant identifiers in the designated fields.
Next, enter the names of the seller and buyer, ensuring accuracy for legal purposes.
Specify the date of agreement in the provided field to establish a clear timeline for all parties involved.
Address lead-based paint hazards by selecting whether they are applicable or not. If applicable, provide necessary details about their presence.
Complete sections regarding radon inspection and home inspection contingencies, indicating whether these options are waived or elected.
Finally, ensure all parties sign and date where indicated to finalize the document.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What are the rules for addendums?

Parties Involved: Any party concerned in the original contract can draft an addendum. Legal Professionals: Lawyers or legal professionals may be engaged to ensure the language and structure of the addendum comply with legal standards.

When would you use the residential addendum with the sales contract?

Use an addendum when you need to add or clarify terms that werent in the original agreement (it supplements the contract). Use an amendment when youre changing terms that are already part of the signed agreementlike price, dates, included items, or contingencies (it modifies the contract).

Can real estate agents write addendums?

To provide the best service to their clients, real estate professionals must be educated on current legal protocols related to addendums. Its important for agents to know and understand legal conventions and regulations when drafting addendums and other contracts.

Who typically drafts an addendum?

Both addendums and amendments require the consent and agreement of all parties involved in the original contract. Any party to the contract can propose an amendment or an addendum, but it is necessary for all other parties to agree to the proposed changes before either an addendum or an amendment can be added.