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What is a contingency addendum?

What is an appraisal contingency addendum? An addendum is a separate form that, once signed by the buyer and seller, becomes part of the sales contract. Appraisal contingency addendums are state-specific and allow buyers to move forward with their purchase under certain agreed-upon conditions.

What is negotiable after home inspection?

What is reasonable to ask for after a home inspection? It is reasonable to ask the seller to make major repairs that address health, safety, structural issues, and building code violations. The seller may offer cash or a discount in lieu of making repairs.

Can you negotiate offer after inspection?

You can realistically negotiate for anything after a home inspection, but getting the seller to agree to your terms is the real trick. You will need plenty of evidence such as pictures and repair estimates, as often a seller will actually be unaware of the defect in question.

How do you write an addendum to a purchase agreement?

How to Create a Purchase Addendum (4 steps) Step 1 \u2013 Get the Original Purchase Agreement. The buyer and seller should get a copy of the original purchase agreement. ... Step 2 \u2013 Write the Addendum. Complete a blank addendum (Adobe PDF, Microsoft Word (. ... Step 3 \u2013 Parties Agree and Sign. ... Step 4 \u2013 Add to the Purchase Agreement.

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