Contracts
What is an 'addendum' to a real estate contract?
AA cancellation of the original contract
BA document that adds to or modifies the terms of an existing contract✓ Correct
CA summary of closing costs
DThe escrow company's fee schedule
Explanation
An addendum is a separate document that modifies or supplements the terms of the original purchase agreement. It must be signed by all parties and typically references the original contract. Common addendums address repairs, financing terms, or contingency extensions.
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