Is the Effective Date for a real estate purchase agreement the date all parties sign or does it start when filed with Title Company?

Asked by Z4jarboe, Houston, TX Mon Jan 24, 2011

All parties signed and all terms accepted on 1/21 but agreement not filed with title company until 1/24/11. Which date is used for option and other dates that key off of the Effective Date

Help the community by answering this question:

+ web reference
Web reference:

Answers

23
quinnell, Home Buyer, Yakima, WA
Thu Jul 10, 2014
if you do a addendum/amendment to executed purchase and sale agreement in Washington State does that change the start date of that purchase and sale in reference to Inspection agreement, does it change start date if seller changes disclosures also, because buyer has to re look at those doc and sign again
1 vote
Bill Eckler, Agent, Venice, FL
Mon Jan 24, 2011
The effective date for a real estate executed contract is the date and time the last party signs the agreement and the document is delivered.

Hope this is helpful,

Bill
1 vote
delivered where? to both parties or to title co.
Flag Sun Jun 28, 2015
Sylvia Knight, Agent, HILLSBORO SHORES, FL
Mon Sep 23, 2013
I have to make sure that I am correct on this matter. Will that include the revision on a disclosure as well. Let me explain a little better. If all parties initialed the contract, addendums, disclosures, etc. and a NEW disclosure comes in 2 weeks later because the seller has revised it. Would that be considered the final effective date?
0 votes
I guess I want to know if contract was executed and July 7th, by both parties and a amendment was processed by buyer and seller signed july 10th is that the start date of the purchase and sale now
Flag Thu Jul 10, 2014
Ann Dashiell, , Beverly Hills, CA
Sun Apr 21, 2013
The effective date on an offer in Texas is the date the last signature was affixed on the offer. After all terms are agreed and all signatures affixed the offer becomes a contract. The contact and earnest money is delivered to the tile company to open title.

The effective date is very important; it is the date to be used as the starting point to calculate the time periods on the contract; the contingencies to the offer.
Hope this helps, Ann Dashiell, Broker
0 votes
Savannah Bow…, Agent, Fort Collins, CO
Tue Jan 25, 2011
Hi, there.

The effective date would be the date that the listing broker signs off that the contract has been fully executed, which is clearly defined on page 8 of the TREC Contract. Any other contract should be the same...the date of acknowledgement that the Contract has been fully executed.

I hope this information is helpful and in your favor!

All the best to you!

Savannah Boon
New Home Realty Group
832-409-9436
Web Reference:  http://www.har.com/sboon
0 votes
David Kelly, , Houston, TX
Mon Jan 24, 2011
I like Trulia.com.....in the multitude of counselors there is much wisdom....I have learned also with all the input that has been shared...Thank you
Web Reference:  http://www.goldnvault.com
0 votes
Jay Abeya, Mortgage Broker Or Lender, Houston, TX
Mon Jan 24, 2011
The executed date on page 7 of the purchase contract is what you would go by. So 1/21/11 is your answer. Please feel free to contact me with any questions or concerns that yuo may have. I hope you are having a great day.
Web Reference:  http://www.kgcm.com
0 votes
Kathy Emery, Agent, Cypress, TX
Mon Jan 24, 2011
The Executed date or effective date is the final date that all parties have signed the contract. Then the earnest money is delivered to the title company.
0 votes
David Tansey, Agent, Houston, TX
Mon Jan 24, 2011
The short answer: The executed date on page 7 of the contract(page 8 on new form) is the effective date for calculating deadlines like option period, third party financing, survey delivery, HoA Docs, etc. The title commitment does keys off when the title company receives the contract.(paragraph 6B).
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Jan 24, 2011
Your listing agent should be providing you clarity. It all depends on executed sales agreement. Any professional who renders an opinion COULD BE held liable for wrong info. without full review of entire documents signed

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes
Guy Gimenez, Agent, Austin, TX
Mon Jan 24, 2011
David,

the broker is not a party to the purchase/sale contract (unless he/she is a buyer or seller of course), and as such, the broker doesn't execute the contract. Only the parties to a contract will need to execute the real property contract form for it to be legally recognized by a court (assuming all other elements of a contract exist).

Even so, all parties can sign and contract and if communication of acceptance from one party to the other is not made (verbally or in writing), then that major element of a contract did not occur and a contract does not exist.
Web Reference:  http://www.phgbrokers.com
0 votes
You have the best answer of all for Texas.
Because you added the key phrase "if communication of acceptance from one party to the other is not made (verbally or in writing), then that major element of a contract did not occur and a contract does not exist."
Flag Mon Mar 16, 2015
David Kelly, , Houston, TX
Mon Jan 24, 2011
I believe the answer is when both parties have signed it, then it becomes an executed contract which is then submitted to the title company.......I believe it doesn't become executed until the broker has signed it also.....
Web Reference:  http://www.goldnvault.com
0 votes
Bruce Lynn, Agent, Coppell, TX
Mon Jan 24, 2011
Execution date....
Please tell me you have a realtor involved with the transaction.
Web Reference:  http://www.teamlynn.com
0 votes
Richard Howe…, Agent, Houston, TX
Mon Jan 24, 2011
The effective date in Texas is when the last party agrees in writing to all of the terms in the contract. Any verbal agreements in a real estate contract are not regonized or enforseable. All RE contracts must be in writing.

Regards,

Richard
0 votes
Guy Gimenez, Agent, Austin, TX
Mon Jan 24, 2011
Unless otherwise noted in the contract form, the effective date is date on which the remaining party agrees (verbally or in writing) to the final terms. Offer and acceptance is a required element for a contract so once acceptance occurs (along with the other contractual elements), the contract becomes effective. This date may or may not be the date that the last remaining party executes the contract form, which is why the effective date is generally considered to be the signing date.

Unless the contract states the effective date is the date on which the title company receives the contract, then the title company will have nothing to do with the actual effective date.
Web Reference:  http://www.phgbrokers.com
0 votes
Connie Inmon, Agent, Cypress, TX
Mon Jan 24, 2011
The contract is executed the day the last person signs. Once executed, the option period begins for 10/15 days what ever the contract says.

Good Luck
Connie Inmon
0 votes
Marcia Levine, Agent, Plano, TX
Mon Jan 24, 2011
The effective date is the executed date on the contract, which is filled in by the last Realtor that has had any initialing or signing to be done. This date can be found on page 7 of the contract. The option date begins the day after the executed date.

Best regards,
Marcia
Web Reference:  http://www.MarciaLevine.com
0 votes
Ralph Janisch, Agent, Durango, CO
Mon Jan 24, 2011
It's when all parties have signed. That's why it's important to date the contract once all parties have signed. All the timelines in the contract are contingent on the effective date.
0 votes
Larry Stovall, Agent, Cypress, TX
Mon Jan 24, 2011
The effective date is 1/21. Day 1 of the option period is 1/22.

Larry
0 votes
Kevan Pewitt, Agent, Houston, TX
Mon Jan 24, 2011
If your contract was prepared on the Texas Real Estate Commission standard form, there will be an execution date on Page 7 of the form. The broker or agent involved will fill in this date after all parties have signed the contract. This date is used for the option period and all other contingencies.
0 votes
David Tansey, Agent, Houston, TX
Mon Jan 24, 2011
When all parties have signed and accepted the contract. The broker that aquires the final signature should execute the contract. That sets the effective date. A title copmpany should not execute the contract. It spells it out (Broker: Fill in the date of final acceptance) is right below the executed date.
0 votes
Don Groff, Agent, Austin, TX
Mon Jan 24, 2011
The effective date is filled i by the last party to sign where no other changes are needing to be made or initialed by the other party. It does not matter when the contract is receipted with the title company. Option period and finance addendum are all based on this date. It is critical for you to have your agent go over these dates with you as the buyer or the seller to ensure you do not give up any of your rights as a buyer or seller.
0 votes
Jonathan Can…, , Houston Groves, Houston, TX
Mon Jan 24, 2011
The effective date is the date the last party signs or initials the last change and the other party has been notified of the last signature or initial. Has nothing to do with the title company.

Jonathan Cantwell
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more