A Purchase agreement addendum is a document attached and made part of the original purchase agreement during its preparation. The document can be information, explanation, or an indication of other requirements not included in the contract. Once prepared, the addendum is executed as part of the original contract. For instance, a buyer in the agreement may want to emphasize the …
An Inspection Contingency Addendum is a legal document that allows the buyer of a property to back out of the transaction if they find a defect in the property and notify the seller to fix it within a specified period but fails to do so. The buyer will typically have up to 14-days to contract an inspector to do a …
Every year, millions of homes are sold and purchased across the globe. Purchasing a home involves several steps. For this reason, the process may not always proceed flawlessly. Routine inspections often reveal the need for repairs, and appraisals of the buying price may happen. Termite infestations may also be uncovered during pest inspections. It is common for underwriters to ask …