Question

Who is responsible for filling in the effective date of a contract after the last party signs? (a) the selling agent (b) the listing agent (c) the last party to sign (d) the broker

Answer 1

The listing agent  is responsible for filling in the effective date of a contract after the last party signs.

Contract the powerful date is decided with the aid of the very last date of popularity by way of all parties. This date, whilst all parties have come to agreement and signed the agreement, is when the agreement turns into binding between the events.

Settlement powerful date way the date agreed upon through the events for starting the duration of performance below the contract. In no case shall the powerful date precede the date on which the contracting officer or targeted higher approval authority signs and symptoms the record.

A promoting agent identifies properties their customers is probably inquisitive about purchasing, contacts the listing agent to set up showings, offers the sellers with gives from their customers and guides them thru remaining as soon as an offer is familiar. The day whilst the contract becomes effective is known as the effective date, which may be distinct from the execution date.

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Answer 2

The correct option is (d) the broker

The Realtor or Broker or Salesman is responsible for filling the effective date of a contract after the last party signs. A Realtor is a broker who represents the buyer and the sellers of real estate property, in easy words they help their customers to sell or buy houses.

• The effective date is referred to as the day when the contract becomes effective or starts functioning and, the contract cannot be effective until all the parties had signed it. Moreover, there are certain legal steps to proceed with this process that are very much necessary to follow.  The responsibility for the completion of the contract lies with the broker.

• Brokers work on their own independently, but there are some agents who work under licensed brokers. Some related professionals are loan officers and stockbrokers.

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