Real Estate Lingo: What’s an Amendment?

What’s an amendment?

An amendment is a change to an agreement of purchase and sale or offer.

It could be anything from deleting a condition or a clause to changing a condition or a clause to changing a date, like the closing date.

It could also be changing the names on the purchase and sale agreement, adding someone, deleting someone, et cetera.

What happens is that whoever is initiating the change signs gives an irrevocable time limit to the other party, and it gets sent to them.

If they agree within that time period, then it’s all good. They sign it back. The amendment doesn’t pass if they disagree.

Contact us if you have questions. We’re happy to help!

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