Question Details

Em, Home Buyer in Philly

Corporate Addendum Required?

Asked by Em, Philly Wed Aug 20, 2008

What *exactly* does this phrase mean? I see it often in listings. It seems that if requested that corporate addendum is required when filing to place a bid. I have a good idea, but I want to be certiana nd have a clear understanding.

Thank You!

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Once an offer is accepted, the bank, asset company, trustee or other corporate entity handeling th sale will send a disclosure to be an addendum to the purchase agreement spelling out items such as the price, deposit, closing date, what happens if you dont close on time, inspection clause and that it is sold as is with associated disclosures stating they have neever lived in the property, there is no information, no warranties or guarantees. Most often called addendum a and b. Good luck in your search
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1 vote Thank Flag Link Wed Aug 20, 2008
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