Urgent!!!!:Addendum needed for closing

9 Replies

I need to draft an addendum that proposes a change to the title and escrow company that will be used for a property that I intend on closing on, however, I have no experience doing this. I would gladly compensate anyone who could do this for me within a timely manner. Any help would be greatly appreciated

@Josh Rogers   I'll do it for free.  Sending you a pm now.

Michael Ablan, Real Estate Agent in NY (#10401289490)

    I write my own addendums  let me tell you how quite simple

    on word

    at the top in 14 point   center the word ADDENDUM

    under that put  RE:   and the property address

    under that put the terms of the addendum  IE   purchase price to be  XXX all other terms to remain the same

    then put sig  line and  date 

    that's all that needs to be done..

    its just telling the parties what is going to change in the original contract..

    Brie your Lawyers got you guys trained  LOL....  addendums are always in most markets the responsibility of the agents to write..

    @Jay Hinrichs here only a lawyer can edit or modify the terms of the contract.  If the seller is represented by a lawyer they will probably reject any addendum not written by a lawyer.

    As an agent in IL it is illegal for me to even scratch something out on the offer  because I am not a licensed attorney.  I am only allowed to fill in the blanks.

    Brie Schmidt, Real Estate Agent in Wisconsin (#57846-90) and Illinois (#471.018287)

    Originally posted by @Brie Schmidt :

    @Jay Hinrichs here only a lawyer can edit or modify the terms of the contract.  If the seller is represented by a lawyer they will probably reject any addendum not written by a lawyer.

    As an agent in IL it is illegal for me to even scratch something out on the offer  because I am not a licensed attorney.  I am only allowed to fill in the blanks.

     strong lawyer lobby there in IL... holy cow... but hey you just have to work with what your state laws are out there.. so it sounds like the original question the person needs to have a lawyer 

    We write our own addendum when not using real estate agents

    Clearly state that it is an addendum at the top referencing the original purchase and sales agreement. In the body clearly reference the clause it is modifying and the actual words used should be similiar if not identical as in the original purchase and sales, just with a different closing company.

    Who is holding the hand money/earnest money? Make sure that the old closing company is willing to transfer it especially if its sizable

    ILLINOIS

    Title companies, lenders, and attorneys may conduct closings, but only attorneys may prepare documents. Lenders generally hire attorneys and have them prepare all the paperwork. Conveyance is by warranty deed. Recorded deeds must include a declaration of the sales price. Mortgages are the customary security instruments.

    Brie Schmidt, Real Estate Agent in Wisconsin (#57846-90) and Illinois (#471.018287)

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