Addendum to contract dated ____________________, 20_____________
Property Address: ____________________________________
Notwithstanding anything to the contrary in the attached contract, the parties
The buyer's earnest money shall be held in escrow by agent of buyer's choice.
default of this agreement, seller shall retain earnest money as his sole remedy
further resource between the parties.
In the event of of any Seller financing, the promissory Note to be executed by
shall have no personal resource against the borrower.
In the event part of the purchase price is to be satisfied by buyer taking
existing financing, buyer shall not be required to pay fees exceeding
nor be required to show income or credit worthinness to the holder of said
deed of trust. Seller expressly agrees and understands that buyer is taking the
"subject to" such mortgage or deeds of trust, and is not expressly assuming
for the underlying loans. If the actual loan balance of said loan is less than
herein, the purchase price shall be reduced to reflect the difference; If the
balance is more than as stated herein, then buyer's required cash payment shall
accordingly. Seller agrees to waives tax and insurance escrows held by said
lender or its
The buyer may extent the closing date an additional THIRTY (30) days by paying
$__________ in cash. Buyer reserves the right to do a final "walk through" the
day of closing.
Seller shall surrender possession to the property in broom clean condition, and
free of all personal
items and debris on or before ________________, 20_____. (possession date) In
the event possession
is not delivered at closing, buyer shall withhold proceeds from the sale in the
$______________ as security. Seller shall be liable for damages in the amount of
$_______ per day
for each day the property is occupied beyond the possession date. This paragraph
shall survive the
closing of title.
EXECUTION IN COUNTERPARTS
This agreement may be executed in counterparts and by facsimile signatures. This
become effective as of the date of the last signature.
This agreement is subject to the final inspection and approval of the property
by the buyer in writing
on or before ________________, 20_______.
Buyer shall be entitled a key and be entitled to access to show partners,
lenders, inspectors and/or
contractors and/or contractors prior to closing. Buyer may place an appropriate
sign on the property
prior to closing for prospective tenants and/or assigns.
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