Is notarization required?

Not always. Notarization is typically required when the amendment must be recorded or when state law or lender instructions demand a notarized acknowledgment; check recording office and lender rules for the specific property.

Do lenders need to approve a price change?

Often yes. Price changes can affect loan-to-value and underwriting; notify the lender promptly to determine whether reappraisal or loan condition updates are necessary.

What if parties cannot agree on the amendment?

If parties do not reach mutual assent, the original contract terms remain binding; unresolved disputes may require negotiation, mediation, or legal remedies under the contract's dispute clause.

How do I correct an executed error?

Prepare a corrective amendment or mutual rescission signed by all parties; involve escrow, title, and lender to ensure consistent records and prevent closing delay.

How long should executed copies be kept?

Retain executed amendments for at least the active term plus 3 years; for tax or HIPAA-related records follow IRS (IRC §6501(a)) and HIPAA (45 CFR §164.530(j)) retention requirements.

Electronic Signature
Templates
Real estate
Real Estate Extension & Price Change Agreement

Real Estate Extension & Price Change Agreement

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Real Estate Extension & Price Change Agreement

This Extension and Price Change Agreement (the Agreement) amends and supplements the Purchase Agreement referenced below. The parties agree to modify certain dates and the purchase price of the Property as set forth in this Agreement. Capitalized terms used and not defined herein have the meanings given in the Purchase Agreement.

Reference Information

Purchase Agreement Date:

Seller Name:

Buyer Name:

Property Identification

Street Address Parcel / APN Number Legal Description

Parties' Contact Information

Seller Contact Information Buyer Contact Information

Extension of Dates and Contingencies

The parties hereby agree to extend the following deadlines under the Purchase Agreement as checked below:

Inspection Period Extended

New Inspection Deadline:

Financing Contingency Extended

New Financing Deadline (if applicable):

Appraisal/Valuation Contingency Extended

New Appraisal Deadline:

Closing Date Extended

New Closing Date:

Purchase Price Amendment

The Purchase Price in the Purchase Agreement is hereby amended as follows: New Purchase Price: $

Effective Date of Price Change:

Earnest Money / Deposit Adjustments (if any): Additional Deposit Due By:

Allocations and Closing

Prorations and adjustments at Closing shall be made in accordance with the Purchase Agreement, except as modified herein. Buyer and Seller agree that any change in Purchase Price will result in corresponding adjustments to prorations, lender credits, and closing statements.

New Possession Date (if different)

Representations, Warranties and Acknowledgements

Each party represents and warrants that: (a) it has full authority to enter into this Agreement; (b) this Agreement is a legal, valid and binding obligation; and (c) except as expressly modified herein, all terms of the Purchase Agreement remain in full force and effect. No oral agreements modify this Agreement.

Disclosures

Lead-Based Paint Disclosure Previously Provided: Yes No

Seller Known Prior Damage / Material Defects: Yes No

Mold or Hazardous Conditions Known to Seller: Yes No

Default and Remedies

Except as expressly amended by this Agreement, all default, cure and remedy provisions of the Purchase Agreement remain in effect. In the event of a material breach resulting from a party's failure to comply with this Agreement, the non-breaching party shall be entitled to pursue all remedies provided by law or equity including, without limitation, termination of the Purchase Agreement, retention or return of earnest money as set forth in the Purchase Agreement, and an action for specific performance.

Brokerage, Costs and Attorney Fees

Brokerage commissions, closing costs, and allocation of attorney fees will be handled in accordance with the Purchase Agreement. If a dispute arises under this Agreement, the prevailing party shall be entitled to recover reasonable attorney fees and costs.

Broker(s) Acknowledgement / Names

Miscellaneous Provisions

Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the state in which the Property is located. This Agreement, together with the Purchase Agreement, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations and understandings concerning the subject matter, except for the unchanged provisions of the Purchase Agreement.

Amendment; Counterparts: This Agreement may be executed in counterparts, each of which will be deemed an original and all of which together will constitute one instrument. Signatures transmitted by electronic means shall be binding for all purposes.

Additional Terms / Notes

Additional Terms

Seller Printed Name:

By:

Date:

Buyer Printed Name:

By:

Date:

What the Real Estate Extension & Price Change Agreement Is

A Real Estate Extension & Price Change Agreement modifies an existing purchase contract to extend a deadline (for example, the closing date or contingency removal date) and to record a new purchase price or price adjustment. It must identify the original contract, specify the extension period, state the amended purchase price clearly, and show mutual assent by signatures and dates for all parties. This amendment operates alongside the original contract and should reference any related escrow, financing, or contingency provisions affected by the change.

Why This Agreement Matters and How It Functions Legally

Using a written extension and price change creates clear mutual consent, reduces dispute risk, and preserves contract continuity; electronic execution is generally valid under 15 U.S.C. §7001 (ESIGN) and state UETA laws when intent, consent, attribution, and retention requirements are met.

Which Parties and Professionals Typically Prepare This Amendment

Common users include buyer and seller representatives, listing and buyer brokers, escrow officers, and closing attorneys.

Buyers and buyers' agents who need more time for inspections or financing approval.
Sellers and listing agents adjusting price to reflect market conditions or inspection findings.
Title/escrow officers who coordinate amendments and update closing instructions.

The document ensures all stakeholders have a dated, signed record of the extension and price terms to present to lenders, title companies, and, if needed, courts or mediators.

Core Elements to Include in a Professional Amendment

A complete extension and price change agreement balances specificity and clarity, minimizing ambiguity about deadlines, amounts, and who must act next.

Reference

Cite the original purchase agreement by date and parties so the amendment unmistakably attaches to that contract.

Extension Term

State the new deadline (MM/DD/YYYY) and whether timeframes are calendar days or business days, and which contingencies are affected.

Price Change

Specify the new purchase price numerically and in words; indicate whether adjustments affect earnest money or prorations.

Consideration

If additional consideration is exchanged for the extension, state the amount and payment timing to avoid ambiguity.

Conditions

List any conditions that must be met before the extension becomes effective, such as lender approval or amended escrow instructions.

Signatures

Provide signature blocks for all contracting parties with printed names, dates, and contact details for attribution.

Step-by-Step: How to Complete and Execute the Amendment

Follow these steps to prepare, confirm, and finalize the extension and price change consistently.

01

Prepare Draft: Reference original contract; fill all fields, including effective date and new price.
02

Review With Parties: Confirm lender and title implications, and obtain broker concurrence if required.
03

Execute Signatures: All parties sign and date; notarize if state or lender requires.
04

Distribute Copies: Send signed copies to escrow, lender, brokers, and title company immediately.

How to Configure an Online Workflow for This Agreement

Set up fields, authentication, and routing so signers follow the required order and parties receive final executed copies automatically.

Field	Configuration
Signature Order	Sequential routing: listing agent → buyer → seller → escrow
Authentication	Email plus SMS code for critical signers
Notifications	Automated reminders at 48 and 24 hours before expiry
Audit Trail	Enable IP, timestamp, and action logging

Where to Send Executed Amendments and Who Needs Copies

Distribution ensures the amendment is actionable and reduces delays at closing.

Escrow / Title: Provide fully executed copy to update closing instructions and title commitment.
Lender: Deliver to lender for underwriter review and loan condition updates.
Listing/Broker: Send copies to listing and buyer brokers for file completeness.
All Parties: Each contracting party should keep a signed copy for recordkeeping.

Technical and Platform Requirements for Digital Execution

Use a platform that supports secure PDFs, audit trails, and conditional fields for price and date changes.

File Formats: PDF or DOCX preferred
Authentication: Email with optional SMS or KBA
Integrations: Connect to title, CRM, and storage systems

Confirm the platform supports legal retention, audit reporting, and any lender-prescribed signer authentication prior to e-execution.

Common Timeframes and Deadlines to Watch

Amendments interact with multiple timelines; clarify each to avoid conflicting expectations among parties and lenders.

Acceptance Window:

State how long an executed amendment is effective for acceptance or rescission.

Deposit Timing:

Note any deadlines for additional earnest money tied to the price change.

New Closing Date:

Show the revised closing date and related contingency removal deadlines.

Recording / Title Updates:

Indicate when title/escrow will update documents; recording may follow closing.

Lender Conditions:

Identify lender approval deadlines for loan recalculation or re-approval.

Key Milestones from Request to Final Recording

Track milestone stages so each party knows their next action and the expected timing.

01

Request Submitted

Party proposes extension and price change; initiates review process.

02

Counter / Negotiation

Parties exchange terms or conditions for acceptance or revision.

03

Mutual Execution

All parties sign; lender and escrow are notified of the executed amendment.

04

Escrow / Title Update

Escrow updates closing instructions; title commitment reviewed for final steps.

Common Preparation and Execution Errors

Failing to reference the original contract date or parties, which creates ambiguity about which contract is amended.
Entering inconsistent price amounts (numeric vs written), leading to enforceability disputes or lender confusion.
Neglecting to notify the lender or escrow company, which can delay closing or trigger loan conditions.
Using vague language about the extension or conditions, increasing the risk of litigation or failed closings.

Risks and Consequences of an Incorrect Amendment

Contract Void: Risk of unenforceability

Deposit Loss: Potential earnest money forfeiture

Recording Error: Title defects or delays

Loan Impact: Lender may rescind or re-underwrite

Tax Implications: Reporting errors or adjustments

Litigation: Disputes over terms and damages

eSignature Vendor Pricing Snapshot for Executing Amendments

Compare basic pricing and feature availability for common eSignature providers used to execute real estate amendments; signNow is listed first per vendor ordering rules.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	Yes, 7-day trial	Varies by vendor	Varies by vendor	Varies by vendor	Varies by vendor
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Frequently Asked Questions About the Amendment

Answers to common questions about validity, notarization, e-signing, lender notification, and what to do if parties disagree.

Need help? Contact support

Can this be signed electronically?
Yes. Electronic signatures are generally enforceable under the ESIGN Act (15 U.S.C. §7001) and state UETA laws when intent, consent, attribution, and reliable record retention are met; confirm any lender or county recording requirements first.
Is notarization required?
Not always. Notarization is typically required when the amendment must be recorded or when state law or lender instructions demand a notarized acknowledgment; check recording office and lender rules for the specific property.
Do lenders need to approve a price change?
Often yes. Price changes can affect loan-to-value and underwriting; notify the lender promptly to determine whether reappraisal or loan condition updates are necessary.
What if parties cannot agree on the amendment?
If parties do not reach mutual assent, the original contract terms remain binding; unresolved disputes may require negotiation, mediation, or legal remedies under the contract's dispute clause.
How do I correct an executed error?
Prepare a corrective amendment or mutual rescission signed by all parties; involve escrow, title, and lender to ensure consistent records and prevent closing delay.
How long should executed copies be kept?
Retain executed amendments for at least the active term plus 3 years; for tax or HIPAA-related records follow IRS (IRC §6501(a)) and HIPAA (45 CFR §164.530(j)) retention requirements.

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