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An amendment is used after the contract has been agreed to and signed. For example, if the Buyer and Seller have already entered into a Purchase Contract and want to change the purchase price, an amendment should be used to reflect that change on the Purchase Contract.

So using the addendum will ultimately make it easier on you as a real estate agent. You create the addendum, you send it to escrow and escrow creates the amendment to the deal and includes it in the escrow instructions.

What is an Addendum To Purchase And Sale Agreement? An addendum to purchase and sale agreement is a kind of attachment to a real estate contract that adds new terms and conditions to the original contract. An addendum to purchase and sale agreement can be attached to a contract to modify the actual terms.

Always put a contract amendment in writing and make sure both parties sign and date it. Reference the title of the contract, if applicable; its original parties; and original signing date, so that it is clear what document you are amending. Attach the amendment to the original contract.

The amendment can be created to meet your specific needs for your deal. Typically you would have an attorney draft up an amendment if it's not already included in the original PSA document. Once the amendment to a purchase and sale agreement is drafted, it will be signed by both parties to become legally binding.

A purchase agreement amendment is a legal document that changes the terms and conditions of an existing purchase agreement. It becomes binding after the buyer and seller have signed and should be attached to the original agreement.