Real Estate is a fluid, people-centric transaction that makes the use of the General Addendum necessary. Often there may be several uses for the General Addendum.
General Addendums are used in the real estate transaction for a variety of reasons. Need to change the name on a contract? General Addendum. Need to add a person to the contract? General Addendum. Remove a contingency in a transaction? You got it. Buyer is purchasing the old antique dresser in the master bedroom? Yep. That too. Sometimes you even find yourself penning a General Addendum to make a previous General Addendum irrelevant. The list goes on and on. The General Addendum is used mostly when there is no specifically designed form to handle the circumstance. Many of our forms in the Real Estate Industry are there for a very specific reason. Hence, "Offer to Purchase", or "Delayed Occupancy Agreement". When it is general, and sort of non specific, the General Addendum is the best document to state specifics that must be adhered to. In Northwest Arkansas we see the General Addendum frequently. Again, Real Estate is a fluid business. Things change, or get changed, and anything that differs from the original contract must be completed in writing to protect all parties involved. |
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