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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.

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.

A contract amendment is a document that modifies an existing contract to improve, fix, or clarify anything in the original document. In other words, an amendment changes the current terms and conditions of an agreement by replacing a portion of it.

You can use a contract amendment letter to list the changes to the original document and have both parties sign. You can create a contract amendment created from a template or from a legal services provider. You can add amendment pages?digital or print?to the end of the original signed contract.

Under Illinois law, a real estate purchase agreement is legally binding, and as such, you and the seller will be expected to fulfill that agreement. However, if you find that you need to back out of buying a house, you still might be able to do so, even if you have already signed a purchase agreement.

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.