if despite the buyer’s diligent efforts a commitment for such loan cannot be obtained on or before , then the buyer shall have the option of revoking this agreement by written notice to the seller and/or the broker representing the seller prior to the expiration of such time, whereupon all deposits made by the buyer shall be forthwith refunded, and this agreement shall become null and void and without further recourse to either party. if it is the opinion of such inspector that the property contains serious structural, mechanical or other defects and if the repair of such defects would cost the buyer in the aggregate more than $ , then the buyer shall have the option of revoking the agreement by written notice to the seller and/or broker representing the seller on or before the buyer may, at the buyer’s own expense and on or before , have the property inspected for the presence of radon gas. if it is the opinion of such inspector that any such materials are present on the property, then the buyer shall have the option of revoking this agreement by written notice to the seller and/or the broker representing the seller prior to the expiration of such time.

an addendum to purchase and sale agreement is a kind of attachment to a real estate contract that adds new terms and conditions to the original contract. lawyers with backgrounds working on addendums to purchase and sale agreement work with clients to help. brad is a business attorney with experience helping startup and growing companies in a variety of industries.

but you should also know about the different addenda that a buyer might request. sometimes called a due diligence contingency, an inspection contingency addendum allows the buyer to back out of the contract if the home inspection does not come back as expected. if a buyer is selling their home simultaneously, a home sale contingency addendum states that they will purchase the seller’s home if and only if their home sells first.