An Addendum In Real Estate Contract becomes necessary when parties need to modify their original property agreement without creating an entirely new contract. Common in Singapore's dynamic real estate market, this document addresses changes such as purchase price adjustments, completion dates, or property specifications. It must comply with Singapore's property laws and regulations, including the Residential Property Act and relevant HDB rules if applicable. The addendum ensures all modifications are legally binding while preserving the integrity of the original agreement.
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1. Identification of Original Contract: Reference to the original contract being modified, including date and parties
2. Parties: Details of all parties involved in the original contract and addendum
3. Background: Context and reasons for the addendum
4. Definitions: Any new terms being introduced in the addendum
5. Modifications: Specific changes being made to the original contract
6. Effect on Original Agreement: Statement confirming all other terms remain unchanged
7. Execution: Signature blocks and execution details
1. Additional Terms: New terms being added to the contract when introducing completely new provisions
2. Time Extension: Modified timelines or deadlines when changing any contractual dates
3. Price Adjustment: Changes to the original purchase price when modifying financial terms
4. Property Description Update: Changes to property details when modifying property specifications
1. Schedule of Amendments: Detailed list of all modifications to the original contract
2. Updated Payment Schedule: Revised payment terms and schedule if payment terms are modified
3. Modified Property Plans: Updated property specifications and plans if property details are changed
4. Supporting Documents: Any relevant certificates, permits, or authorizations required for the modifications
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