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Real Estate Purchase Agreement Addendum
"I need a Real Estate Purchase Agreement Addendum to modify the closing date of our property purchase in Manila to March 15, 2025, and to include additional parking spaces that were recently negotiated with the seller."
1. Parties: Identification of all parties to the addendum, including their complete legal names, addresses, and capacities as they appear in the original purchase agreement
2. Background: Reference to the original purchase agreement including its date of execution, brief description of the property, and reason for the addendum
3. Definitions: Key terms used in the addendum, including references to defined terms from the original agreement that remain applicable
4. Amendments to Original Agreement: Specific modifications to the original agreement, clearly identifying sections being modified, deleted, or supplemented
5. Effect on Original Agreement: Statement confirming that all other terms and conditions of the original agreement remain in full force and effect
6. Integration: Clause stating that the addendum forms an integral part of the original purchase agreement
7. Governing Law: Confirmation that the addendum is governed by Philippine law and subject to the same jurisdiction as the original agreement
8. Execution: Signature blocks for all parties, including spaces for witnesses and notarization as required under Philippine law
1. Additional Consideration: Used when the addendum involves changes to the purchase price or payment terms
2. Extended Closing Date: Include when the purpose of the addendum is to modify the closing timeline
3. Property Modifications: Used when changes to the property description or included items are being made
4. Conditions Precedent: Include when adding new conditions that must be met before closing
5. Tax Provisions: Used when specific tax arrangements or responsibilities need to be modified
6. Broker Provisions: Include when changes affect real estate broker arrangements or commissions
7. Title Matters: Used when addressing new title issues or modifications to title requirements
8. Representations and Warranties: Include when adding or modifying representations about the property or transaction
1. Schedule A - Modified Payment Terms: Detailed breakdown of any changes to payment structure or amounts
2. Schedule B - Property Modifications: Detailed description of any changes to the property specifications or included items
3. Schedule C - Updated Due Diligence Documents: List of new or additional due diligence documents required
4. Appendix 1 - Revised Property Plans: Updated property plans or surveys if modifications affect physical aspects of the property
5. Appendix 2 - Additional Requirements: Any new government requirements or permits needed due to the modifications
6. Appendix 3 - Updated Timeline: Revised timeline showing new deadlines and milestones if applicable
Authors
Effective Date
Property
Modified Purchase Price
Additional Consideration
Closing Date
Extended Closing Date
Seller
Buyer
Parties
Transfer Certificate of Title
Modified Terms
Completion Date
Payment Schedule
Due Diligence Period
Escrow Agent
Title Insurance
Permitted Encumbrances
Additional Conditions
Modified Representations
Certificate of Title
Deed of Absolute Sale
Local Government Unit
Real Estate Broker
Property Modifications
Additional Documents
Governing Law
Transfer Date
Registration
Notarial Acknowledgment
Force Majeure
Tax Clearance
Zoning Requirements
Building Permits
Environmental Compliance
Real Estate Taxes
Documentary Stamps
Capital Gains Tax
Transfer Tax
Occupancy Date
Integration
Purchase Price Adjustment
Payment Terms
Property Description
Closing Conditions
Title and Registration
Representations and Warranties
Due Diligence
Property Inspection
Environmental Compliance
Zoning Compliance
Tax Provisions
Transfer of Ownership
Risk of Loss
Insurance
Default and Remedies
Force Majeure
Notice Requirements
Broker Provisions
Assignment
Severability
Governing Law
Dispute Resolution
Amendment and Waiver
Further Assurances
Counterparts
Electronic Execution
Recording and Registration
Survival
Real Estate
Construction
Banking and Finance
Legal Services
Property Development
Property Management
Real Estate Investment
Urban Planning
Commercial Property
Residential Property
Hospitality
Retail
Industrial
Legal
Real Estate
Compliance
Property Management
Corporate Affairs
Contract Administration
Due Diligence
Property Development
Sales
Investment
Risk Management
Real Estate Lawyer
Property Manager
Real Estate Broker
Legal Counsel
Real Estate Agent
Corporate Lawyer
Compliance Officer
Real Estate Developer
Contract Administrator
Property Development Manager
Real Estate Investment Manager
Title Officer
Real Estate Paralegal
Real Estate Transaction Coordinator
Due Diligence Officer
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