Amendment

TXR 1932 — Commercial Contract Amendment

This amendment provides a standardized way to modify an executed commercial contract. It offers pre-built sections for the most common commercial contract changes: sales price adjustments (cash portion, financing and the resulting total), property description corrections (by attached exhibit or restated legal description), repair agreements, feasibility period extensions with additional earnest money and independent consideration (including an optional early release of earnest money to the seller), financing deadline extensions for third party loans or assumption approval (with optional additional consideration and whether it is credited to the sales price), a new closing date, seller-paid buyer expenses, waiver of the buyer's right to terminate under Paragraph 7B, execution in counterparts, and an open space for any other modifications.

Source: TXR
Form Number: 1932
Category: Amendment
Revised: July 8, 2022

Used For

Commercial Sales

Form Outline

The TXR 1932 form is organized into the following sections:

  1. Header and Property Identification
    Identifies the property address and establishes the effective date of the amendment to the underlying commercial contract; the lettered boxes say which paragraphs apply ("Check all applicable boxes.").
  2. A. Sales Price
    Modifies the sales price in Paragraph 3 of the contract by specifying a new cash portion and sum of all financing; the paper prints the total as their sum, so it is calculated and never typed.
  3. B. Property Description
    Changes the legal description in Paragraph 2A of the contract, either by referencing an attached exhibit or by providing the new description directly in the open space under "or as follows:".
  4. C. Repairs
    Establishes that buyer accepts the property in its present condition except for specifically listed repairs that seller agrees to complete at seller's expense before closing.
  5. D. Extension of Feasibility Period
    Extends the feasibility period to a new date in exchange for additional earnest money. A specified portion becomes non-refundable independent consideration retained by seller (credited to the sales price only at closing). Under (2)(b) the buyer may authorize escrow to release all or a stated amount of the remaining additional earnest money to the seller ("Check no boxes or only one box").
  6. E. Extension of Financing Deadline
    Extends the deadline for Buyer to give notice of inability to obtain the third party loan(s) (Financing Addendum A(2)) and/or assumption approval (B(6)). Buyer may pay additional consideration for the extension, which will or will not be credited to the sales price at closing.
  7. F. Closing
    Changes the closing date in Paragraph 10A of the contract to a new date.
  8. G. Expenses
    Allocates a specified dollar amount of buyer's closing expenses under Paragraph 13 of the contract to the seller.
  9. H. Waiver of Right to Terminate
    Upon final acceptance of the amendment, buyer waives the right to terminate under Paragraph 7B of the contract. Pre-printed — its "❑" box is in the paragraph list above.
  10. I. Counterparts
    Allows the amendment to be signed in separate counterparts that together form one binding agreement. Pre-printed — its "❑" box is in the paragraph list above.
  11. J. Other Modifications
    Open space (no ruled lines) for any contract modifications not addressed by the specific pre-built sections.
  12. Signature Block
    Page 2: "Seller: ____" and "Buyer: ____" (each with a second unlabelled line), then two signer blocks per side — "By:" (the person or entity signing on the party's behalf), "By (signature):" (an e-sign tab), "Printed Name:" and "Title:". No "Date" line is printed.

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