Can this be signed electronically?

Yes. Electronic signatures are generally enforceable under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted; ensure parties consent to electronic records and you meet any industry-specific exceptions.

Is notarization required?

Most price amendments do not legally require notarization, but state or brokerage rules may require it for certain actions; consult local rules and use RON where the state permits for remote notarization.

Who may sign for a seller?

Signature authority follows title ownership and power-of-attorney rules; confirm signatory authority before execution to avoid later challenges or escrow delays.

How do I correct a signed amendment?

If an error is found, prepare a new amendment or corrective addendum with clear references to the original document, obtain signatures from all original parties, and distribute revised copies to all recipients.

How long should I keep the executed agreement?

Retain the executed amendment for at least three years after closing for tax and audit purposes (IRC §6501(a)); longer retention may be required for state rules or industry-specific regulations.

Can a price change affect closing documents?

Yes. Any price amendment should be provided to escrow, lenders, and title to ensure settlement statements, loan documents, and commissions reflect the revised amount and to prevent closing delays.

Electronic Signature
Templates
Real estate
Real Estate New Price Agreement

Real Estate New Price Agreement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

REAL ESTATE NEW PRICE AGREEMENT

Parties and Transaction

This Real Estate New Price Agreement ("Agreement") amends the terms of the Purchase Agreement between Seller and Buyer identified below. Client Name: (Seller) and Client Name: (Buyer) entered into an original Purchase Agreement dated / / .

Property Identification

Property Address Parcel / APN Number Legal Description

Price Amendment Terms

The parties agree that the Original Purchase Price of $ is hereby amended. The New Purchase Price shall be $ (the "New Price"). All references to "Purchase Price" in the Purchase Agreement shall be deemed to refer to the New Price.

Earnest Money / Deposit

If applicable, the parties agree that Earnest Money shall be adjusted as follows: . Any additional deposit shall be delivered to the Escrow Holder pursuant to the Purchase Agreement within days of execution of this Agreement.

Financing, Contingencies & Inspections

Financing Contingency

Financing contingency status: Approved Not applicable / Waived. If approval deadline must be extended due to the New Price, the new lender approval deadline is / / .

Inspection Period

Except as expressly modified herein, all inspection rights, remedies, and cure periods set forth in the Purchase Agreement remain in full force. Any inspection objections shall be delivered in writing in accordance with the Purchase Agreement and this Agreement.

Closing, Possession and Prorations

Closing Date

Possession to be delivered to Buyer: . Prorations for taxes, assessments, rents and utilities will be computed as of the Closing Date in accordance with the Purchase Agreement.

Disclosures and Acknowledgments

Seller represents that the Seller's disclosures previously delivered remain true and complete except as disclosed below:

Material Changes (if any)

Lead-Based Paint Disclosure Applicable: Yes No Mold History: Yes No Prior Material Damage or Repair: Yes No

Default, Remedies and Effect of Amendment

Except as modified by this Agreement, all rights, obligations, and remedies of the parties under the Purchase Agreement remain unchanged. A breach of this Agreement constitutes a breach of the Purchase Agreement. In the event of default, the non-defaulting party shall be entitled to all remedies available at law or in equity, including specific performance when monetary damages are insufficient to protect the non-defaulting party, subject to the terms and limitations of the Purchase Agreement.

Title, Closing Costs and Other Costs

Title company and closing procedures shall remain as set forth in the Purchase Agreement. Responsibility for closing costs, escrow fees, recording fees, and transfer taxes remains as allocated in the Purchase Agreement unless otherwise revised below:

Revisions to Costs Allocation

Representations, Warranties and Miscellaneous

Each party represents and warrants that it has the full right, power and authority to enter into this Agreement and to perform its obligations hereunder. This Agreement shall be governed by the laws of the state where the Property is located. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes any prior amendment inconsistent with this Agreement. Any further modification must be in writing and signed by both parties.

Governing Law Notices

Notices shall be delivered in accordance with the Purchase Agreement. Seller Notice Address:

Buyer Notice Address:

Broker / Agent Acknowledgment (Optional)

Listing Broker / Agent Selling Broker / Agent

Execution

This Agreement is effective upon execution by all parties. Except as expressly modified herein, all other terms and conditions of the Purchase Agreement shall remain in full force and effect.

Seller Printed Name:

By:

Date:

Buyer Printed Name:

By:

Date:

What the Real Estate New Price Agreement Is

A Real Estate New Price Agreement is a written amendment between listing parties and sellers that records an agreed change to a previously stated listing or sale price. It documents the revised price, the effective date of the change, any adjustments to commissions or contingencies, and who authorized the change. The form establishes a clear record for the MLS, cooperating brokers, and prospective buyers, and it can be executed in writing or electronically where state law permits and the parties consent to electronic records and signatures under ESIGN and UETA.

Why a Clear Price Agreement Matters

Using a formal New Price Agreement reduces disputes by providing an auditable, dated record of the new price and authorization. It clarifies obligations for listing agents, cooperating brokers, and sellers, and it supports accurate MLS updates and closing statements.

Who Typically Completes a New Price Agreement

Accurate completion ensures downstream documents match the agreed terms and reduces risk of closing delays or commission disputes.

Listing agents and brokers: Prepare and present the amendment, update MLS records, and distribute copies to cooperating brokers.
Sellers / property owners: Authorize the price change, sign the amendment, and confirm any commission or contingency adjustments.
Escrow/title professionals: Review for consistency with purchase agreements and ensure the amended price appears on closing documents.

Step-by-Step: Fill Out and Finalize the Price Amendment

Follow this sequence to prepare, sign, and distribute a compliant Real Estate New Price Agreement.

01

Prepare Draft: Complete property, original price, new price, effective date, and authorizing party fields.
02

Obtain Seller Approval: Review draft with seller; confirm commission or contingency impacts before signature.
03

Sign and Authenticate: Collect signatures from all required parties and apply any required notarization or witness steps.
04

Distribute and Record: Send fully executed copies to MLS, cooperating brokers, escrow, and retained records.

Key Elements to Include in a Professional Price Agreement

These six elements are essential for clarity, enforceability, and seamless transaction processing.

Full Property Data

Complete address, legal description where available, and listing ID to tie the amendment to the original listing and reduce ambiguity.

Precise Pricing

State the original and new price in clear numeric form and specify whether amounts include seller-paid concessions or prorations.

Effective Date

A clear MM/DD/YYYY effective date prevents disputes about when the new price applied for offers or MLS display.

Authorization Clause

A short clause confirming seller authorization of the change and any adjustments to broker commission or marketing obligations.

Signature and Consent

Signature blocks for seller(s) and agent(s) with space to record method of signature and any authentication used for e-signatures.

Distribution List

A record of parties who received the completed amendment: MLS, cooperating brokers, escrow/title, and internal files for audit trails.

Essential Information to Record

Seller Name: Full legal name

Listing Agent: Brokerage and agent name

Listing ID: MLS or internal ID

Original Price: Numeric amount

New Price: Numeric amount

Effective Date: MM/DD/YYYY

Configuring an Online Price Amendment Workflow

Typical online workflow settings to streamline completion, authentication, and recordkeeping.

Field	Configuration
Signature Fields	Place signature and date fields for each party; require completion before submission
Authentication	Use email or SMS code for signer verification; stronger KBA or ID checks where required
Conditional Fields	Reveal commission adjustment fields only if commission changed
Audit Trail	Enable capture of IP, timestamp, and actions for compliance

Where to Send or File the Completed Agreement

After execution, route the signed amendment to all stakeholders and update official records as required.

MLS Submission: Upload executed amendment or update listing entry per board rules
Cooperating Brokers: Email or provide signed copy to buyer-side brokers
Escrow/Title: Deliver to escrow and title for closing adjustments
Internal Records: Store executed PDF in transaction folder with audit trail

Digital Signing and Technical Considerations

Maintain a secure copy with metadata and an audit trail to support compliance with ESIGN and state electronic signature laws.

File Formats: PDF or DOCX accepted; preserve flattened PDF for recordkeeping
Integrations: Connectors to MLS, CRM, or cloud storage ease distribution
Authentication: Support email, SMS, KBA, or ID verification depending on risk

Risks From Incorrect or Missing Information

Listing Errors: MLS misrepresentation risk

Commission Disputes: Brokerage payment disagreements

Closing Delays: Escrow reconciliation issues

Contract Breach: Buyer/seller claim exposure

Tax Reporting: Incorrect closing statements

Authentication Failure: Signatures that cannot be verified

Common Preparation Mistakes to Avoid

Leaving the effective date blank or ambiguous, which creates disagreement over when the new price applies.
Failing to record the authorizing party's full legal name, causing notarization or identity verification failures.
Not distributing the executed amendment to MLS and cooperating brokers promptly, resulting in public listing inaccuracies.
Relying on informal texts or emails without an executed amendment, which increases contract and closing risk.

Practical Tips for Accurate, Efficient Completion

Apply these practices to reduce errors, speed approvals, and maintain a defensible audit trail.

Standardize the Form

Use a consistent template that includes all required fields, signature blocks, and a distribution list; templates reduce omissions and speed agent onboarding.

Capture Consent to eSign

When you intend to use electronic signatures, include an ESIGN-compliant consent statement and record how consent was given to ensure enforceability.

Authenticate Appropriately

Choose signer authentication proportional to transaction risk: email/SMS for routine changes, stronger ID verification for high-value listings.

Keep an Audit Trail

Retain timestamps, IP addresses, and copies of each signed version for dispute resolution and regulatory compliance.

Timing Considerations and Expected Deadlines

Key deadlines help ensure MLS accuracy and prevent closing confusion; follow local board rules for exact timing.

Effective Date:

MM/DD/YYYY on the amendment controls when price takes effect

Seller Notice:

Obtain seller signature before listing changes are advertised

MLS Update Window:

Update per local MLS rules, often within 24–72 hours

Escrow Notification:

Provide executed amendment to escrow within business day of signing

Record Retention:

Store executed copy promptly with transaction files

Real-World Examples of Online Price Amendments

These short examples illustrate how digital workflows reduce friction in real estate pricing changes.

Martin Properties

Tim Martin used online signing for a price reduction to avoid a listing gap

Signed by seller and agent the same day
The electronic amendment reduced MLS downtime and ensured escrow received the updated price with a preserved audit trail for closing.

Optica Ventures

Optica's COO relied on a standardized amendment template for rapid price updates

Template included distribution list and effective date
Consistent templates removed ambiguity, accelerated broker notifications, and simplified post-closing reconciliation.

eSignature Pricing and Capability Snapshot for Price Amendments

Comparing common eSignature vendors on price, trial availability, bulk-send capability, audit trail, HIPAA support, and envelope limits helps select a platform for high-volume real estate workflows.

	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	7-day free trial	Varies by vendor	Varies by vendor	Varies by vendor	Varies by vendor
Bulk Send	Yes (Business Premium)	Yes	Yes	Yes	Yes
Audit Trail	Yes	Yes	Yes	Yes	Yes
Envelope Cap	No envelope cap	100 envelopes/user/year	Varies by plan	Varies by plan	Varies by plan

Frequently Asked Questions About Price Amendments

Answers to common questions about electronic signing, notarization, signatory authority, and revision of price agreements.

Need help? Contact support

Can this be signed electronically?
Yes. Electronic signatures are generally enforceable under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted; ensure parties consent to electronic records and you meet any industry-specific exceptions.
Is notarization required?
Most price amendments do not legally require notarization, but state or brokerage rules may require it for certain actions; consult local rules and use RON where the state permits for remote notarization.
Who may sign for a seller?
Signature authority follows title ownership and power-of-attorney rules; confirm signatory authority before execution to avoid later challenges or escrow delays.
How do I correct a signed amendment?
If an error is found, prepare a new amendment or corrective addendum with clear references to the original document, obtain signatures from all original parties, and distribute revised copies to all recipients.
How long should I keep the executed agreement?
Retain the executed amendment for at least three years after closing for tax and audit purposes (IRC §6501(a)); longer retention may be required for state rules or industry-specific regulations.
Can a price change affect closing documents?
Yes. Any price amendment should be provided to escrow, lenders, and title to ensure settlement statements, loan documents, and commissions reflect the revised amount and to prevent closing delays.

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