I've been a little reluctant putting a deal together because of my lack of understanding of contracts. I have a Florida FARBAR contract sent to me by my attorney and I understand to add an addendum to protect myself. My questions are: do you attach the addendum as just another piece of paper in addition to the regular contract and should it have a signature space? Also, where do you write, 'addendum supersedes original contract language' (not sure if I stated that correctly)?
Feel free to add any other tips that'll help me understand more and get over this fear. Thanks in advance!
There is a blank "Addendum " form available, just like the dozen or so standard ones. Yes, an addendum has to be signed. There's also about 15 blank lines on the last page of the FARBAR for "additional terms", that should be enough anyway. What clauses are you considering/worried about?
Thank you @Wayne Brooks
The clauses will most likely be:
Contingent on approval of inspection results
Contingent on partners approval
Contingent on inspection....is already in the contract, you just fill in the number of days, typically 7-15.
Contingent on partner approval.....guru BS and will get your contract in the trash.
What do you advise and what city are you in?