I've never heard of amending an existing recorded note, but that doesn't mean that it can't be done.If you are going to create a new instrument, in order to sell it at a premium, it needs to be seasoned in order to show performance.

We amended our contract 23K below the asking price and never heard from the seller's agent again.I guess I should title this, how $250 saved me $20,000.Now, I'm not a thoroughbred RE investor (I'm a newbie), but if the community is saying a good inspection should take 2-3 hours, plus another 1 hour for miscellaneous, and it may not cost more than $100 an hour to do an inspection, shouldn't you pro's let an inspector do the work while you're tying up other deals or securing the current one, instead of running the inspection yourself?

Remember, your LOI is not a legally binding agreement, so after your offer is accepted, you are more than free to go and look at the property, and you can always amend your LOI determined on what you find wrong with the property, especially if it would make your deal not a good one for you.I think I explained it?

Hi, in Georgia this would just require an amendment that can be executed at closing, if necessary.  

Call the buyer -- tell him have bats in the porch and want to amend disclosure which has been presented.

@CL Tumlin If I might slightly amend @Chris Adams information above.

This could be a great opportunity or a nightmare.Can't afford the whole place, get an option and a first right of refusal, actually need both.I'd kill the HOA or amend voting rights to built units, the seller has control of the entire project, saying defunct may just mean broke, not legally closed.

If I was in your shoes, I'd try to amend that agreement asap, or dissolve it and find a PM that doesn't require you empower them in such a way.

If the seller doesn't/can't close and you still want the property beyond the original contract date, be sure to formally amend and extend your purchase agreement with any new terms and the new closing date.

Like others have stated, you need to read the HOA bylaws and any amendments for the individual condo association and the Florida Condominium Act (this of course varies state to state).