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Zach Taylor, a real estate broker, explains the concept of the binding agreement date in contracts, emphasizing its importance and the confusion it often causes among agents and clients. He clarifies what it means for two parties to be bound and moving towards closing. While he begins with a standard disclosure stating he is not an attorney and suggests seeking legal advice for questions, he intends to share his insights gained from his years of experience in the industry. He highlights the significance of the last line item on the purchase and sale agreement, which acknowledges receipt, as a key element in determining the binding agreement date.
