Fillable Printable Addendum to Contract for Purchase and Sale of Real Estate

Addendum to Contract for Purchase and Sale of Real Estate

Addendum # 1 FHA APPRAISAL

THIS IS A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, WE RECOMMEND CONSULTING AN ATTORNEY BEFORE SIGNING.

ADDENDUM TO CONTRACT FOR PURCHASE AND SALE

OF REAL ESTATE BETWEEN

Regarding the property located at:

It is expressly agreed that, notwithstanding any other provisions of this Contract, the Purchaser

shall not be obligated to complete the purchase of the property described herein or to incur any

penalty by forfeiture of earnest money deposits or otherwise unless the Purchaser has been given

in accordance with FHA requirements a written statement issued by the Federal Housing

Commissioner, Veterans Administration or a Direct Endorsement lender setting forth the

appraised value of the property of not less than $ , The Purchaser shall have the

privilege and option of proceeding with consummation of the Contract without regard to the amount of

the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the

Department of Housing and Urban Development will insure. HUD does not warrant the value nor the

condition of the property. The Purchaser should satisfy [himself/herself] that the price and the condition

of the property are acceptable.

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