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An Addendum In Real Estate Contract is a crucial document in South African property transactions when modifications to an existing agreement become necessary. It's typically used when circumstances change after the initial contract signing but before the transfer of property, such as adjustments to purchase price, closing dates, or property specifications. The document must comply with South African property law, including the Alienation of Land Act and Property Practitioners Act, and requires proper execution and witnessing. This type of addendum helps avoid the need to draft an entirely new contract while ensuring that changes are legally binding and properly documented. It's particularly important in complex real estate transactions where flexibility may be needed while maintaining legal certainty.
