About the Change in Terms Addendum
The Change in Terms Addendum to Agreement of Sale (Form CTA) is for making common changes to an agreement of sale after it has been executed.
Using the Change in Terms Addendum
The Change in Terms Addendum can be used at any time during the transaction if it becomes necessary to make adjustments for any purpose, including renegotiations following inspections. Several commonly used options are outlined in the Change in Terms Addendum to move forward with a sale. Both parties can agree to a reduction in price, seller credit, repairs pre-settlement or any other agreed upon accommodation. Additionally, there is space to write other changes which may be unique to a transaction.
Latest Content
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…and I Want a Pony
- January 28, 2022
- 6 min. read
It seems that many buyers, sellers, brokers and agents seem to believe that merely asking (or demanding) for something to happen just magically speaks it into existence and they are entitled to get whatever they want.
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Negotiating the Change in Terms Addendum to Agreement of Sale
- July 17, 2020
- 5 min. read
In a balanced market, and frequently in this seller’s market, properties are sold twice. There is the original offer and acceptance and then there is the renegotiation that follow the inspection reports.
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The ubiquitous corrective proposal
- December 11, 2017
- 5 min. read
Why should repairs and other tasks be completed before settlement when a seller can escrow funds to cover the future completion of these obligations?
