An Amendment Real Estate Purchase Contract becomes necessary when parties need to modify terms of their original real estate purchase agreement without creating an entirely new contract. Common situations requiring this document include changes to purchase price, closing date adjustments, modification of contingencies, or alterations to property specifications. In the United States, these amendments must comply with state-specific real estate laws and typically require proper witnessing or notarization. The document serves as a formal record of agreed changes while preserving the validity of unmodified terms from the original contract.
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1. Parties: Identification of all parties to the original contract and amendment, including their legal names and addresses
2. Background: Reference to original contract including date, parties, and reason for amendment
3. Definitions: Key terms used in the amendment and their meanings
4. Amendment Details: Specific changes being made to the original contract, clearly stating the original clause and new modified clause
5. Effect on Original Agreement: Statement that all other terms of the original agreement remain in full force and effect
6. Execution: Signature blocks, date of amendment, and any notarization requirements
1. Purchase Price Adjustment: Details of any changes to the original purchase price, including payment terms and schedules
2. Closing Date Modification: Changes to the closing timeline and any related conditions or requirements
3. Due Diligence Extension: Modified inspection or due diligence periods, including new deadlines and terms
4. Financing Terms: Changes to financing conditions, requirements, or deadlines
1. Schedule A - Revised Property Description: Updated legal description or property boundaries if being modified
2. Schedule B - Modified Payment Terms: Revised payment schedule or terms if purchase price or payment structure is amended
3. Schedule C - Updated Due Diligence Requirements: Modified inspection requirements, deadlines, or conditions if being changed
Relevant legal definitions
Clauses
Amendment Details
Consideration
Price Adjustment
Closing Date Modification
Due Diligence Period
Property Description
Representations and Warranties
Survival of Original Terms
Further Assurances
Governing Law
Integration
Execution
Counterparts
Notice
Assignment
Time of Essence
Ratification
Financing Contingency
Inspection Rights
Title and Survey
Recording
Severability
Force Majeure
Consideration
Price Adjustment
Closing Date Modification
Due Diligence Period
Property Description
Representations and Warranties
Survival of Original Terms
Further Assurances
Governing Law
Integration
Execution
Counterparts
Notice
Assignment
Time of Essence
Ratification
Financing Contingency
Inspection Rights
Title and Survey
Recording
Severability
Force Majeure
Relevant Industries
Relevant Teams
Relevant Roles
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