Real Estate Purchase Agreement Addendum Template for Philippines

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Key Requirements PROMPT example:

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."

Document background
The Real Estate Purchase Agreement Addendum is a critical legal instrument in Philippine real estate transactions, used when parties need to modify terms of their original purchase agreement without drafting an entirely new contract. This document type is essential when circumstances change after the initial agreement is signed, such as adjustments to purchase price, closing dates, or property specifications. It must comply with Philippine Civil Code requirements, Property Registration Decree (PD 1529), and local real estate regulations. The addendum ensures that modifications are properly documented and legally binding, protecting all parties' interests while maintaining the integrity of the original agreement. It's particularly important in complex real estate transactions where flexibility is needed to address changing conditions or new requirements that arise during the purchase process.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Construction

Banking and Finance

Legal Services

Property Development

Property Management

Real Estate Investment

Urban Planning

Commercial Property

Residential Property

Hospitality

Retail

Industrial

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Corporate Affairs

Contract Administration

Due Diligence

Property Development

Sales

Investment

Risk Management

Relevant Roles

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

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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