What does it mean if a Corporate Addendum is required when buying a house? Is that a bad thing?
A corporate addendum is an addendum to the standard Purchase & Sales contract. Generally, the addendum says that the house is being sold as-is and the seller will not make any repairs. It may also state that the seller will make no disclosures about the condition of the property. “Corporate addendum required” is awkward shorthand for, “You have to sign the corporate addendum to buy the house.” These addenda are generally used when the house is owned by investors.