The Addendum To Real Estate Contract Template serves as a crucial tool in U.S. real estate transactions when modifications to the original contract become necessary. Common scenarios include price adjustments, closing date changes, property condition updates, or additional terms needed after inspection. This document maintains legal compliance while allowing flexibility in contract terms, ensuring all parties agree to modifications. It must conform to both federal regulations and state-specific real estate laws, requiring proper execution by all original parties to maintain enforceability.
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1. Original Contract Reference: Details of the original contract being modified including date and parties
2. Parties: Identification of all parties to the original contract and addendum
3. Purpose of Addendum: Clear statement of why the addendum is being created
4. Modifications: Specific changes to the original contract
5. Effect on Original Contract: Statement that all other terms remain unchanged
6. Signatures: Execution section for all parties
1. Additional Terms: New terms not covered in original contract - use when introducing completely new provisions
2. Timeline Modifications: Changes to original contract deadlines - use when modifying dates or schedules
3. Price Adjustments: Changes to financial terms - use when modifying purchase price or payment terms
1. Schedule A - Modified Terms: Detailed list of specific modifications to original contract
2. Schedule B - Revised Timeline: Updated dates and deadlines if applicable
3. Schedule C - Price Adjustments: Detailed breakdown of any price modifications
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