What does the Addendum in real estate typically address?

The Addendum in real estate typically addresses changes to an accepted offer. This document allows the parties involved to modify certain terms of the original agreement after it has been accepted but before the closing occurs. For instance, an addendum might include adjustments to the purchase price, alterations in contingencies, or other elements that need clarification or change as negotiations evolve or due diligence reveals new information.

While the other options relate to the broader real estate transaction process, they do not specifically capture the primary function of an addendum. Finalizing the sale pertains to the complete and final agreement once all terms are settled, whereas closing costs refer specifically to the expenses incurred at the closing of the transaction. Termination of a contract deals with ending the agreement itself, which is a different legal action distinct from modifying terms through an addendum. Thus, the correct answer highlights the flexibility and specificity that an addendum provides in managing changes to the agreement between the parties.