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Video instructions and help with filling out and completing Trec amendment form
Hello everyone Ricky Reuther a broker good choice I have a quick video here on how to do so as you can see on the screen here this is a standard of human purchase and sale let's say hypothetically we're going to amend this clause okay right now I've written it to the effect that you've got five banking days or business days to arrange your financing from a date following the date of the acceptance in order for you to amend this to increase the number of days what you can do is you can actually first off add the amendment to the actual transaction kit so you do that by clicking on a little bullet and then add and remove forms from there you can go to the amendment okay so amendment to the agreement person instead will be form 120 add it and then create and save from there you can go to the actual amendment itself click on edit and you'll see this here so you'll fill up all of the pertinent information on the top and I'm really just showing you here how you amend an actual cause so what we've gotten the original agreement is the standard clause which I've coffee so what we're gonna be doing is we're gonna be typing the words delete ok semicolon and you put that Clause there and now in its place we want to insert so literally you can paste the same Clause except instead of five days now you can make it seven days okay or you can put an actual date whatever whatever your practice is whatever you're comfortable with you can do it that way now once this is sent out it's kind of like an actual offer you have to understand and appreciate that the other party can project this and if they reject it well then you lose the actual deal as an example using the financing condition if your financing is up tonight and you're looking to extend it by virtue of an amendment and they say no to that well if you don't send the waiver the deal falls through us you know it so there is a bit of a chance involved but it depends on the kind of condition that you're looking to remove the type of term that you're looking to remove and replace okay so you would make it your local little higher by for example the buyer you would do everything else the same way the agreement of purchase and sale would be and once this is accepted this would be a supplementary a corollary agreement which would then take precedence over the actual condition in the agreement that was deleted here on this similar note I want to show you as an example how you would change the closing date at by virtue of an amendment so you've got the action we made a purchase and sale here again okay and what you've.