Скачать или смотреть Addendum Vs. Amendment - When do you use the AEA? - San Diego Real Estate Forms

Addendum vs. Amendment and when to use the AEA

It can be confusing, since the terms Addendum and Amendment can be used in conversation interchangably in the Real Estate Industry - however they mean very different things.

Addendum is to add to something - adding information to a disclosure, clarifying which Escrow company is being used in the form, parties name.
Amendment is changing terms that have been negotiated in the contract - Credit as in lieu or repairs, price reduction, change to time frame.

The AEA - Amendment to Existing Agreement form was created to assist with credits in lieu of request for repairs as a document that could be provided to the lender. It also has a timeframe for response, same as the counter offer.

This form can be used when negotiated terms are being changed on the contract.

The ETA - Extension of Time addendum will covert to an amendment with a response required time frame in the December 2022 CAR Forms Update.

I'm here to help you or another Real Estate Professional/Brokerage you know with any timeframe, form or compliance questions, even if I'm not the TC on the file!

Samantha Mann Hays
DRE 01385631
Certified CAR Forms/Zipforms Trainer/CTC
Realtor
619-993-7264
[email protected]
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