Addendum vs Amendments

Addendum and Amendments are terms that are used widely in the real estate business. Most of the time, these terms create confusion among the buyers as they are not aware of their right application. When dealing with real estate issues, one should not be confused with addendum and amendments.

An amendment is more commonly used than an addendum.

In simple words, amendment means making changes in an already existing agreement. On the other hand, Addendum means including an additional document in the already existing one.

An amendment can also be called as correcting a document or improving the document. It can be also termed as an alteration to the original document. An amendment could also include supplementary information to the first document. It may include anything from price to vacating the house.

An Addendum is usually added to an existing document if something has been left out initially while drafting the document. An addendum is something that is added and made part of the original document only if it has been accepted by the concerned authorities. An Addendum is an informational or explanatory note of the requirements of the parties concerned that have not been specified in the original document.

Once the Addendum is accepted, it becomes a part of the whole agreement or document.

While an addendum becomes a part of the legal and binding contract, amendments are only part of a contract until negotiations.

An amendment can only be made by the persons who had signed the document. On the other hand, an Addendum can be made by any person as it is only an additional attachment to the existing document. An addendum would stand up in any court more than an amendment.

Summary

1. An amendment means changes made in an already existing agreement. On the other hand, an addendum means including an additional document in the already existing one.

2. While an addendum becomes a part of the legal and binding contract, amendments are only part of a contract until negotiations.

3. An amendment can also be called as correcting a document, improving the document, making alteration or including supplementary information to the first document. An Addendum is an informational or explanatory note of the requirements of the parties concerned that have not been specified in the original document.

4. An addendum is something that is added and made a part of the original document only if it has been accepted by the concerned authorities.

5. An amendment can only be made by the persons who had signed the document. On the other hand,an addendum can be made by any person as it is only an additional attachment to the existing document

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