The Addendum To Real Estate Purchase And Sale Agreement is a crucial legal instrument used in Philippine real estate transactions when parties need to modify their original agreement without creating an entirely new contract. This document type is commonly required when circumstances change after the initial agreement is signed, such as adjustments to purchase price, payment terms, closing dates, or property specifications. Governed by Philippine law, particularly the Civil Code and real estate regulations, the addendum must be properly executed and notarized to be legally binding. It's essential in both residential and commercial real estate transactions, providing a formal and legally compliant way to document changes while preserving the original agreement's integrity. The document should clearly reference the original agreement and specify exactly which terms are being modified, added, or deleted.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train 蜜桃传媒's AI
You keep IP ownership聽of your docs
Alternatively...
1. Parties: Identifies all parties to the original agreement and addendum, including their complete legal names and addresses
2. Background: References the original Purchase and Sale Agreement including its date of execution, property details, and reason for the addendum
3. Definitions: Defines key terms used in the addendum and incorporates definitions from the original agreement
4. Reference to Original Agreement: Explicitly states that this document serves as an addendum to the original agreement and confirms all other terms remain in full force and effect
5. Modifications: Clearly states all changes, additions, or deletions to the original agreement, with specific reference to sections being modified
6. Consideration: States any additional consideration being provided for the modifications, if applicable
7. Effective Date: Specifies when the modifications take effect
8. Confirmation of Other Terms: Reaffirms that all other terms and conditions of the original agreement remain unchanged
9. Governing Law: Confirms Philippine law governs the addendum
10. Execution: Signature block for all parties and witnesses as required under Philippine law
1. Additional Representations and Warranties: Include when new representations or warranties are needed specific to the modifications
2. Payment Terms Modification: Include when changes to payment structure, amounts, or schedules are involved
3. Property Description Update: Include when there are changes to the property description or included items
4. Closing Date Modification: Include when changing the closing date or related timelines
5. Conditions Precedent: Include when new conditions must be met before modifications take effect
6. Broker Provisions: Include when modifications affect broker relationships or commissions
7. Tax Provisions: Include when modifications have tax implications that need to be addressed
1. Schedule A - Modified Payment Terms: Details of any revised payment schedules or terms
2. Schedule B - Updated Property Description: Any changes to property specifications or included items
3. Schedule C - Modified Closing Requirements: Updated list of closing requirements or documents
4. Appendix 1 - Supporting Documents: Any new certificates, permits, or supporting documentation required for the modifications
5. Appendix 2 - Consent Forms: Any required third-party consents related to the modifications
Authors
Find the document you need
No items found.
骋别苍颈别鈥檚 Security Promise
蜜桃传媒 is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your data is private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on 蜜桃传媒 is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
