An instrument modifying or rescinding a contract should identify the contract with certainty. The parts of the contract to be changed should be clearly expressed, and the change itself clearly set forth. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The District of Columbia Addendum to Contract for the Price, Sale, and Purchase of Residential Real Estate is a legal document that is specific to real estate transactions in the District of Columbia. This addendum serves as an extension or modification to the existing contract, adding additional terms and conditions that are unique to the real estate market in the District of Columbia. The District of Columbia Addendum helps protect the interests of both buyers and sellers by addressing specific requirements and regulations that apply to residential real estate transactions in the district. It ensures that all parties involved are aware of and in compliance with the laws and regulations governing real estate transactions in the District of Columbia. Some common types of District of Columbia Addendum to Contract for the Price, Sale, and Purchase of Residential Real Estate include: 1. DC Homebuyer/Seller Disclosure Statement: This addendum requires the seller to provide a disclosure statement regarding the condition of the property, including any known defects or issues that may affect its value or desirability. 2. Lead-Based Paint Disclosure: This addendum ensures compliance with federal lead-based paint regulations by requiring the seller to disclose any known information about the presence of lead-based paint in the property. 3. DC First-Time Homebuyer Tax Credit: This addendum outlines the conditions and eligibility requirements for first-time homebuyers to claim a tax credit on their property purchase. 4. DC Tenant Opportunity to Purchase Act (TOP) Addendum: This addendum is applicable in situations where the property being sold is subject to the D.C. Tenant Opportunity to Purchase Act. It provides information about the rights and responsibilities of tenants and outlines the procedures for tenant purchase offers. 5. Condominium Addendum: This addendum addresses specific provisions related to the sale and purchase of a condominium unit in the District of Columbia, including condominium association rules, fees, and regulations. 6. DC Radon Testing and Mitigation Addendum: In compliance with local regulations, this addendum requires testing and mitigation measures for radon gas, ensuring a safe living environment for buyers. Overall, the District of Columbia Addendum to Contract for the Price, Sale, and Purchase of Residential Real Estate is a crucial document that helps facilitate transparent, legal, and compliant real estate transactions in the District of Columbia. It ensures that both buyers and sellers are protected and aware of the unique regulations and requirements in the district.
