real estate terms: What does 'Ratified Contract' Mean? - 04/14/11 12:10 AM
What does 'Ratified Contract' Mean?

Dear Holly,

We have had our house listed for sale and last week we got a contract. We are waiting to hear back about the Home Inspection right now. Every time I speak with my RealtorĀ® she calls our contract a 'Ratified Contract.' What does this mean? What is the difference between a 'Contract' and a 'Ratified Contract?'

Confused in Northern Virginia

Dear Confused,

Like every other field, Real Estate is a discipline that has its own language. All RealtorsĀ® know the lingo, but we forget that not every one understands … (13 comments)

 


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