How do I change the terms on a purchase agreement?
Hello, I'm making a simple purchase agreement but don’t see how I can make changes to the terms.
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You would amend your terms on your own draft, or you can add an addendum to it.
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Hello, I'm making a simple purchase agreement but don’t see how I can make changes to the terms.
Lexi, Chatbot
I understand you're looking to make changes to a purchase agreement. Are you using a template or drafting it from scratch?
Terms are: purchase for $975,000, $100,000 down, interest-only payments of $2,500/month for 8 months, then a balloon payment. No early payoff. How do I make my own terms?
Lexi, Chatbot
Have you already discussed the changes with the other party involved in the agreement?
Yes I have.
Lexi, Chatbot
Is there anything else the lawyer should know before I connect you? Rest assured they'll be able to help with your purchase agreement.
No.
Dan
Hello and welcome to AskALawyer! I'm Dan, a Legal Expert. I’m reviewing your question and will respond again shortly. I know your situation is complicated. Please be patient if I do not respond within a few minutes as I may be completing another customer’s answer before getting back to this one. Is there any additional information you think might be helpful?
On the e-document, how do I change the terms? Terms are: purchase $975k, $100k down, interest-only payments of $2,500 a month for 8 months, then a balloon payment. No early payoff.
Dan
You would amend your terms on your own draft, or you can add an addendum to it.
So I just use part of it and add in pages?
Dan
Yes.
Ok, thank you.
Dan
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