Posted by River City on February 04, 2006 at 08:28:28:
As long as all parties agree, a contract can be amended to say just about anything that is legal. For an addendum to be enforceable, it must be signed by purchasers and sellers. If the purchaser is the only signer on the addendum, it is not valid.
Purchase Contract Changes - Posted by Greg Morrison
Posted by Greg Morrison on February 01, 2006 at 16:35:04:
Can you change buyers on a contract? For example if one couple signs the contract, and then in an addendum the buyer states that they have the right to assign their rights to another. Then in an additional addendum assigns their rights to another buyer, and it is agreed upon by all parties.
Can modify K up to closing - Posted by John Merchant
Posted by John Merchant on February 04, 2006 at 11:59:12:
As I’ve personally experienced with own & client’s deals, a K (lawyer shorthand for contract) can be modified up until the $$ is delivered to escrow and all docs have been signed.
I’ve known of some famous and notorious people whose specialty was last-possible-second feet dragging…all would be set (the other guy thought, foolishly) but at the last possible second, this guy/gal wanted a “minor” change, such as huge price difference, terms change, etc…and he/she knew that the deal was so important to the other side that they’d agree to most anything just to get it done.
So just understand that it ain’t closed until the deed’s been signed and the $$$ handed over, and be prepared to deal with this kind of junk when it happens to you.