Updated August 01, 2023
A condominium association purchase agreement addendum allows a buyer a specific period of time to review all related condominium documents provided by the seller. In most cases, the buyer will have at least five (5) business days to approve the association documents to ensure that the fees and services provided are reasonable or current with market conditions. The addendum states that if the buyer does not approve, for any reason, they may be able to send written notice to the seller and retrieve their earnest money deposit in-full (if any).