Is the date sold considered the date of the contract or the date of settlement?

Asked by Acatwomanc, Meadowbrook, PA Sun Sep 20, 2009

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Patrick Thies, Agent, Anytown, IL
Sun Sep 20, 2009
Many people refer to houses that are under contract (contract date) as sold, but usually it is the date of the settlement (closing date) when it is officially sold and recorded as such.
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