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Is an addendum to a contract required to remove an existing co-buyer from a property purchase?

Question Details: I was to buy a house with someone else who has now changed their mind. The option to purchase has already been signed by both seller and us making contract binding. Can my co-buyer just call the realtor and have his name removed or is there an addendum required to change the contract? If so, who has to sign it and is it a requirement to have the co-buyer removed from contract in writing only?

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