The Real Estate Encyclopedia
What Is The Binding Agreement Date?
Category - Home Selling Questions - Agent, Offer & Commissions FAQ's

The Binding Agreement Date is the date when the party making the last offer or counteroffer receives notice that the offer was accepted.  This party or the broker representing that party shall fill in the Binding Agreement Date where indicated on the contract and promptly give notice of this date to the other party.  The Binding Agreement Date drives all timelines related to the agreement, e.g. inspection and defect resolution period, satisfaction by the seller of any contingency requests placed by the buyer in the agreement. 

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