How to Add an Addendum to a Real Estate Contract

When it comes to real estate contracts, it`s not uncommon for things to change after the initial agreement has been signed. Maybe the closing date needs to be pushed back, or perhaps the seller has agreed to include certain appliances in the sale. In these situations, adding an addendum to the contract is necessary. Here`s how to do it:

1. Determine the Changes Needed

Before you start drafting an addendum, you need to know exactly what changes need to be made to the original contract. Make a list of everything that needs to be added, removed, or amended, and be as specific as possible.

2. Use Correct Legal Terminology

Adding an addendum to a real estate contract is a legal process, so it`s important to use correct legal terminology and language throughout. If you`re unsure about certain terms, consult with a legal professional or real estate agent to ensure everything is appropriately worded.

3. Write the Addendum

When drafting the addendum, be sure to include the original contract`s date, parties` names, and any identifying information to ensure that the addendum is linked to the correct contract. Write the changes clearly and precisely, and explain why they are being made.

4. Get All Parties to Sign

Once the addendum has been drafted, it needs to be signed by all parties involved. This includes the buyer, seller, and any agents or attorneys involved in the transaction. Make sure everyone has a copy of the signed addendum.

5. File the Addendum

Finally, file the addendum with the original contract. This ensures that the changes are documented and legally binding. Make sure all parties have a copy of the updated contract with the addendum attached.

Adding an addendum to a real estate contract may seem like a complicated process, but it`s a necessary step when changes need to be made. By following these steps, you can ensure that the changes are documented and legally binding, protecting everyone involved in the transaction.