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An Addendum In Real Estate Contract is a crucial document in Canadian real estate transactions used when parties need to modify an existing real estate agreement without drafting an entirely new contract. This document type is commonly employed when circumstances change after the initial agreement is signed, such as inspection findings, pricing adjustments, closing date changes, or other material modifications. The addendum must comply with Canadian provincial real estate regulations and federal laws, ensuring all modifications are legally binding and properly documented. It serves as a formal amendment to the original contract, requiring signatures from all involved parties and often necessitating review by legal professionals to ensure compliance with local real estate laws and regulations.
