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Welcome to the Real Estate Tip of the Week. Morgan York from the York Real Estate Group presents a question answered by Michael. The effective date on a contract is the date of the last signature or initial by either party. The contract becomes legally binding once money is involved in the escrow or deposit held by the title company. This means the contract is enforceable when the agent puts the money with the title company. The effective date is determined by the last person to sign or initial the contract.
