An addendum, also known as a rider, is a supplemental document added to a primary contract to include additional terms or clarify existing conditions without rewriting the entire original document.
A Backup Contract is a pre-arranged agreement to purchase real estate that takes effect if a primary contract is not completed, providing a secondary buyer an opportunity under predefined conditions.
A Contract for Purchase or Sale, also known as an Agreement of Sale, is a comprehensive legal document between a buyer and a seller that outlines the terms and conditions of a real estate transaction.
Equitable title is the interest held by a buyer who has agreed to purchase a property but has not yet completed the transaction. This interest grants the buyer certain rights even though the legal title has not been officially transferred.
An offer in real estate signifies a formal proposal from a buyer to a seller, showcasing a buyer's willingness to purchase property at a specified price or terms.
A Purchase Agreement is a legally binding contract between a buyer and a seller outlining the terms and conditions for the sale and purchase of a property. This document details essential aspects such as price, closing date, and contingencies.
