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Binding Date . Means the date the agreement becomes enforceable by being executed by the parties or their authorised representatives.
A \u201cbinding contract\u201d is any agreement that's legally enforceable. That means if you sign a binding contract and don't fulfill your end of the bargain, the other party can take you to court.
The Binding Agreement Date shall be the date when the party making the last Offer receives notice that the Offer has been accepted. This party (or the Broker representing this party) shall fill in the Binding Agreement Date below and promptly give notice of this date to the other party.
A Georgia residential purchase and sale agreement is a contract that legally binds two parties (seller and buyer) together for the purpose of transferring ownership of residential property.
The Purchase & Sale Agreement (P&S) is a legally binding contract that dictates how the sale of a home will proceed. It comes after the Offer to Purchase, and supersedes that earlier document once it's signed.
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Here are some of the main points outlined in a purchase agreement: Seller and buyer names. Property description. Offer price. Financing terms. Earnest money deposit. Contingencies (inspection, appraisal, your own home sale, etc.). Closing costs and terms. Deadline for acceptance.
Any purchase agreement should include at least the following information: The identity of the buyer and seller. A description of the property being purchased. The purchase price. The terms as to how and when payment is to be made. The terms as to how, when, and where the goods will be delivered to the purchaser.
One of the more frequent questions on the GAR Legal Helpline is who can fill out the Binding Agreement Date. The 2022 GAR Forms make it clear that any party or broker can fill in the Binding Agreement Date.
Agency Disclosure (§ 520-1-. 06(4)(b)) \u2013 No standardized form. Georgia law demands that licensees describe to both buyers and sellers the relationship established upon accepting representation by an agent.
A Georgia residential purchase and sale agreement is a contract that legally binds two parties (seller and buyer) together for the purpose of transferring ownership of residential property.

ga purchase and sale agreement