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question: The VAR Form 600 (Home Purchase Agreement) has a section on the last page of the form for the seller and seller’s information and signatures.
Once we submitted the offer, the buyer signed it and I, the selling agent, also signed the last page before handing the offer over to the listing agent. The seller accepted and signed the same day. However, the listing agent did not sign the last page until 2 days later.
Does this affect the ratification date of the contract? Does it affect how days are counted for contingencies?
answer: In this scenario, ratification occurred when the seller signed the buyer’s offer and delivered the signed acceptance letter to the buyer’s agent. If the conditional period begins at the time of ratification, it begins counting from the date you received the seller’s signed acceptance letter.
The last page of the form is for informational purposes only and does not affect the approval of the contract. As a best practice, the listing company will sign and note the “Approval Date” on the form when they deliver the approved offer to the selling company. The “Approval Date” is the date the approved offer is delivered to the buyer or buyer’s agent.
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