{"id":290,"date":"2018-02-12T07:50:34","date_gmt":"2018-02-12T07:50:34","guid":{"rendered":"http:\/\/www.realestatewords.com\/?page_id=290"},"modified":"2023-05-26T12:19:32","modified_gmt":"2023-05-26T12:19:32","slug":"amendment","status":"publish","type":"page","link":"https:\/\/www.realestatewords.com\/amendment\/","title":{"rendered":"Amendment"},"content":{"rendered":"

Amendment Definition<\/h2>\n

Amendment<\/strong> is a change to the original contract<\/a> and terms \u2014 any additional items to the original agreed terms.<\/p>\n

Explanation<\/h2>\n

When buyers, sellers, brokers<\/a>, landlords<\/a>, and\/or tenants<\/a> agree on different terms other than the original ones, an addenda is created with those terms. This addenda is usually called an amendment.<\/p>\n

Usually a stick point in a transaction that gets its own separate addendum as a highlighted term.<\/p>\n

At times, after a negotiation has been reached between all parties, a new issue or point is raised during or at the beginning of the transaction, and that will require an addendum instead of redrafting a new contract.<\/p>\n

Amendments can also highlight and disclose<\/a> such things as mold<\/a>, lead based paint<\/a>, handicap arrangements, disclosures on the property, financing<\/a> disclosures, etc\u2026<\/p>\n

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