I would think you would just need to make an amendment to the contract and have all parties sign it. 

To me it was also a success this week to delve deeper into my taxes, admit I didn't know what I was doing, and get a CPA to amend my mistakes.  

Once you file a 4562 with a certain land allocation can you then file a 1040x to amend the land allocation if you think you allocated too much of the purchase price to land?  

If the errors amounted to a tax difference of $500 or more, they would agree to become my client the following year and they would pay me to amend their returns.  

The final bill was HIGLY amended and stated only specific sections of the code applied to a LO. ( 7 sections I believe) and even went further to state specific sections did NOT apply, just to clarify any confusion I guess. 

Amendments: Any change or amendment to this Agreement, including oral modification supported by new consideration, must be reduced to writing and signed by all Parties before it will be effective.11.

Here is item 3 mentioned above1.Delivery of Property Information Items: Within 7 days after the effective date, Seller will deliver to the Buyer:a)copies of all current tenant applications and leases pertaining to the Property certified to be true and correct, including any modifications, supplements, or amendments to the leases (applications, leases, modifications, supplements and/or amendments to be made available to Buyer during regular business hours at the Property);b)current rent roll (showing lease rent, delinquencies, lease expiration and security deposits paid), certified by Seller to be true and correct;c)most recent 3 months bank deposits;d)a copy of Seller's income and expense statement for the Property for the last 36 months immediately preceding the effective date;e)copies of the Evidence of Insurance for all policies since the last renewal, including invoices, current policy, and copies of the last three years loss run from the insurance carriers for fire, hazard, liability and any other insurance policy that relates to the property;f)copies of all previous surveys, environmental assessments, geotechnical reports, studies, architectural, engineering feasibility studies, “as builts”, plats, or analyses made on or relating to the Property, including maps, plans and drawings;g)real and personal property tax statements and any appraisal notices for the Property for the previous 2 calendar years;h)copies of current capacity letters, and current utility bills from the property's water, sewer, gas electric, trash, phone and cable service providers for the past two years, or permission to access these accounts;i)copy of existing Property Management Agreement; a)payroll detail – 2012W-2s, YTD monthly, and most recent Y-T-D paystubs;b)a current inventory of all personal property to be conveyed under this contract and copies of any leases for such personal property;c)copies of all notes and deeds of trust against the Property that Buyer will assume or that Seller will not pay in full on or before closing;d)copies of all current service, and maintenance, agreements relating to the ownership and operation of the Property; including but not limited to: Laundry Lease, Cable/Satellite, Electric, Phones, Leasing, Commission, Advertising or other;e)copies of all current warranties and guaranties relating to all or part of the Property;f)current and past capital expenditures for the past three years;g)copies of all work orders for repairs incurred by Seller for the Property in the 24 months immediately preceding the Adjusted Effective Date; (work orders to be made available to Buyer during regular business hours at the Property)

For me, egregious would also apply to situations that challenged my wits, caused me great stress, required me to hire an attorney, impelled me to make amends to neighbors who were harmed, etc.

@Salley SmithSo I am understanding correctly, you are doing an amendment with HUD to change the contract to 203K financing from FHA ? 

Perhaps my way is more expensive, but in the long run (at least in my state of WI) it seems that its not really anymore expensive because I was awarded filing fees, court costs, lost rent, late fees, partial attorney fees, and have 30 days to amend for damages to the property....I agree its definitely faster with "cash for keys". but i wouldnt say its cheaper.