Why Have a Buyer's Agent When Purchasing a House?Buying a house is one of the most significant undertakings you'll make in your entire life. It's not simply about finding the right home for you and

Dated: August 15 2020
Views: 106
What is an addendum? An addendum to a real estate contract or purchase agreement is a document attached to and made a part of the original contract at the time it is prepared. It can be explanatory, informational, or indicate other requirements that aren't clearly spelled out in the contract.
The key is that it is executed with, and a part of, the original contract. Sometimes agents confuse an addendum with an amendment, which is a modification to the terms of an already-accepted contract.
For example, in an area where water rights are very important, a buyer might want to make it very clear that their offer on a piece of property is contingent on the verification of legal water rights. This could be added as an addendum to the purchase contract.
Addenda are frequently used in real estate. Some are state-mandated disclosures, while others are specific to issues with the property being purchased. Some common addenda include:
There are others, but these are common and show the broad subject matter covered in addenda. Often these are mandated forms that are simply attached to the original contract as a matter of course. In some states, there are many standard addenda. In some cases, though an addendum may apply to a contract, it doesn't have to be used. This is common with disclosures.
See article: https://www.thebalancesmb.com/an-addendum-to-a-real-estate-contract-2866358
Tammy Broxson is the Broker Owner of Broxson Real Estate Group, a boutique real estate brokerage in Florida. Tammy is also a State of Florida Real Estate Instructor and a mentor to other real estate p....
Why Have a Buyer's Agent When Purchasing a House?Buying a house is one of the most significant undertakings you'll make in your entire life. It's not simply about finding the right home for you and
ome Maintenance Tasks That Cost More LaterSave money by addressing these home maintenance chores nowSharePinEmail•••BY TORREY KIM Updated April 02, 2020Most people maintain&
Just Because Your Home Is New Doesn't Mean It's PerfectSharePinEmailBY ALY J. YALE Updated July 24, 2020If you’re buying a new construction home, you might assume that a home
Buying Secret #10: Keep Your Money Where It IsIt’s not wise to make any huge purchases or move your money around three to six months before buying a new home. You don’t want to take any