Agreement Date, Changes and Initials

Agreement date, shown on Line 1, is when the first party (I have seen only the buyer initiate) signs the agreement. This date could change when there is a “meeting of the minds”. The reason for a change is if the original sheet has so many changes that rewriting the page with the negotiated information would clarify the information.

Note: If the purchase price changes then the mortgage information in paragraph 8 also will change. You may consider changing the last part which is the acknowledge section just so there is no issue with your signature date, Line 633, earlier than Line 1 and no other dates are in conflict.

Once we identify parties to the agreement on the front page, the Buyer and Seller will initial the bottom of each page except acknowledgment page that contains the signatures of the buyer and seller. The buyer initiates the agreement, signs the acknowledge page and initials the bottom of the other pages then submits the agreement to the seller. The seller will sign the acknowledgment page and initial the other pages when the agreement is negotiated and all the terms are acceptable.

Note: Line 52-53 has very important information that “all changes to this agreement should be initialed and dated”. These dates determine the execution date for the contract. The contingencies you elect all use the execution date for the beginning of the count down to complete each contingency.

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