Addendum to Contract for Purchase and Sale of Real Estate Sample Contracts

ADDENDUM TO CONTRACT FOR PURCHASE AND SALE OF REAL ESTATE BETWEEN
Addendum to Contract for Purchase and Sale of Real Estate • September 14th, 2011
Contract Type
Filed
September 14th, 2011
It is expressly agreed that, notwithstanding any other provisions of this contract, the purchaser shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture of earnest money deposits or otherwise unless the purchaser has been given in accordance with HUD/FHA or VA requirements a written statement issued by the Federal Housing Commissioner, Veterans Administration or a Direct Endorsement lender setting forth the appraised value of the property of not less than $ . The purchaser shall have the privilege and option of proceeding with consummation of the contract without regard to the amount of the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of the Housing and Urban Development will insure. HUD does not warrant the value nor the condition of the property. The purchaser should satisfy himself/herself that the price and the condition of the property are acceptable.

AND
Addendum to Contract for Purchase and Sale of Real Estate • March 24th, 2016
Contract Type
Filed
March 24th, 2016
This Agreement is contingent upon a Contract of Sale being completed for Purchaser's property known as [PURCHASER’S CURRENT ADDRESS] on or about July 1, 2021. It is understood and agreed that the property known as [SELLER’S PROPERTY] is to remain on the market as long as the above contingency is still in effect. In the event, however, the Seller receives a firm written offer in an amount acceptable to the Seller, prior to a Sale of Purchaser's property, Seller shall immediately notify the Purchaser in writing of said offer. The Purchaser shall then have 48 hours from the time of receipt of such notice to waive the aforesaid contingency in writing. If within the said 48-hour period, the Purchaser shall fail to waive said contingency, this Agreement shall be deemed canceled, null and void, and all deposits made hereunder shall be returned to Purchaser. If the Seller receives no such firm written offer, this contingency shall be deemed waived.