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What Documents Will I Be Signing?

Question : Why are there so many additional documents

Why there are so many additional documents before we have a contract?

  • Help me understand the contract and why so much of it is “Standard Language”?
  • What is the difference between Addendum, disclosure, Exhibit, Amendment

Definitions of Disclosure

It is required by statute and should not be overlooked. For real estate it means: Disclosing all known facts that materially affect the value of a residential real property and are not readily observable to the buyer.

Definition of Exhibit

An exhibit is a document that attaches to the contract, used as additional space. When a maximum amount of characters are reached in the on line forms Agents can type “see Exhibit A” and so on, to complete the necessary information

Definition of Addendum

A document holding an addition or change to an existing contract between two or more parties.

Definition of Amendment

A document that makes a change to the ratified contract