Coronavirus – Real Estate Addendum/Amendment

Coronavirus Addendum:

California Association of Realtors released a new form called The Coronavirus Addendum/Amendment (Form CVA).  When circumstances related to the coronavirus are affecting the closing date, the Buyer and Seller agree to extend escrow for a default of 30 days. Also and option where buyer and seller can mutually agree to cancel the Agreement and an additional optional clause where the buyer or seller can cancel even after removing the loan contingency if inability to fund is caused by Covid-19 related loss of income. This form can be used either as an amendment to a contract  or as an addendum to an offer. Here is the form:

Coronavirus Addendum

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Shirin Rezania Ramos, Realtor®