Washington Advanced Real Estate Continuing Education Practice Exam

When a buyer wants to ensure that specific conditions, terms, or agreements are recognized and formalized in a real estate transaction where the standard agreement may not encompass all their needs, they typically include an addendum. An addendum serves as a supplementary document that modifies, clarifies, or adds details to the original contract, reflecting the buyer's additional requirements or contingencies.

Using an addendum allows for clear communication and legal recognition of the new terms, ensuring all parties are on the same page. This helps to mitigate potential disputes or misunderstandings in the future.

In contrast, a counteroffer is generally used to propose changes to the terms of an offer made by the other party rather than to add new conditions. A receipt for additional documentation would not be a legally binding addition to an agreement, and parol evidence refers to oral statements or agreements that are not included in a written contract, which may not be admissible in court when interpreting the contract. Therefore, the most appropriate method for a buyer to include their additional conditions in a real estate transaction remains the addendum.