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.
Franklin, Ohio is a vibrant city located in southwestern Ohio, offering a mix of small-town charm and big-city amenities. It is a sought-after destination for those looking to settle in a peaceful yet lively community. The Franklin Ohio Addendum to Contract for the Price, Sale, and Purchase of Residential Real Estate is an essential document used in real estate transactions within the city. This addendum serves as an attachment to the main contract, outlining additional terms and conditions specific to real estate transactions in Franklin, Ohio. It ensures that both the buyers and sellers are protected and have a clear understanding of the property's purchase and sale terms. The addendum provides detailed information on various aspects involved in the transaction, such as: 1. Property Description: The Franklin Ohio Addendum includes a comprehensive description of the residential property being sold. It highlights essential details such as the property's address, lot size, square footage, number of bedrooms and bathrooms, and any other pertinent information specific to the property. 2. Price and Financing Terms: This addendum specifies the purchase price agreed upon by the buyer and seller for the residential real estate. It also outlines the financing terms, including the down payment amount, mortgage commitment, and any other financial considerations relevant to the transaction. 3. Inspection and Contingencies: The addendum may cover the buyer's right to conduct a home inspection and delineate any contingencies related to inspection results. It could also address issues such as the presence of lead-based paint or other hazardous materials, allowing the buyer to negotiate repairs or, in severe cases, withdraw from the contract. 4. Title and Closing: This section outlines the process of transferring property ownership, ensuring a clear title and suitable insurance. It may include provisions for a title search, title insurance, closing costs allocation, and fees associated with the closing process. 5. Disclosure Requirements: The addendum may detail specific disclosure obligations for sellers, ensuring transparency and compliance with local and state regulations. This can include information about known defects, environmental hazards, or any other material facts that could impact the property's value or desirability. 6. Additional Provisions: The Franklin Ohio Addendum may include additional provisions unique to the local area or specific circumstances of the transaction. These provisions could address matters such as homeowner association rules, property taxes, easements, or other specific conditions that require special attention. It's important to note that while there may be standard templates of the Franklin Ohio Addendum to Contract for the Price, Sale, and Purchase of Residential Real Estate, the exact content can vary depending on the specific requirements and preferences of the parties involved. However, the addendum typically covers the key points mentioned above to ensure a smooth, legally binding real estate transaction in Franklin, Ohio.Franklin, Ohio is a vibrant city located in southwestern Ohio, offering a mix of small-town charm and big-city amenities. It is a sought-after destination for those looking to settle in a peaceful yet lively community. The Franklin Ohio Addendum to Contract for the Price, Sale, and Purchase of Residential Real Estate is an essential document used in real estate transactions within the city. This addendum serves as an attachment to the main contract, outlining additional terms and conditions specific to real estate transactions in Franklin, Ohio. It ensures that both the buyers and sellers are protected and have a clear understanding of the property's purchase and sale terms. The addendum provides detailed information on various aspects involved in the transaction, such as: 1. Property Description: The Franklin Ohio Addendum includes a comprehensive description of the residential property being sold. It highlights essential details such as the property's address, lot size, square footage, number of bedrooms and bathrooms, and any other pertinent information specific to the property. 2. Price and Financing Terms: This addendum specifies the purchase price agreed upon by the buyer and seller for the residential real estate. It also outlines the financing terms, including the down payment amount, mortgage commitment, and any other financial considerations relevant to the transaction. 3. Inspection and Contingencies: The addendum may cover the buyer's right to conduct a home inspection and delineate any contingencies related to inspection results. It could also address issues such as the presence of lead-based paint or other hazardous materials, allowing the buyer to negotiate repairs or, in severe cases, withdraw from the contract. 4. Title and Closing: This section outlines the process of transferring property ownership, ensuring a clear title and suitable insurance. It may include provisions for a title search, title insurance, closing costs allocation, and fees associated with the closing process. 5. Disclosure Requirements: The addendum may detail specific disclosure obligations for sellers, ensuring transparency and compliance with local and state regulations. This can include information about known defects, environmental hazards, or any other material facts that could impact the property's value or desirability. 6. Additional Provisions: The Franklin Ohio Addendum may include additional provisions unique to the local area or specific circumstances of the transaction. These provisions could address matters such as homeowner association rules, property taxes, easements, or other specific conditions that require special attention. It's important to note that while there may be standard templates of the Franklin Ohio Addendum to Contract for the Price, Sale, and Purchase of Residential Real Estate, the exact content can vary depending on the specific requirements and preferences of the parties involved. However, the addendum typically covers the key points mentioned above to ensure a smooth, legally binding real estate transaction in Franklin, Ohio.
