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Zach, a real estate broker, discusses the concept of the binding agreement date in real estate contracts. He clarifies that the binding agreement date signifies when two parties are moving towards the closing date. Many agents and clients often confuse this concept, so Zach aims to provide clarity. He emphasizes that he is not a lawyer and advises seeking legal advice for specific questions. Zach, drawing from his experience in the industry, explains that the binding agreement date is typically noted in the purchase and sale agreement under the acknowledgment of receipt section.
