For example, a buyer could deposit their serious money deposit in trust until a home inspection is complete, and be sure that if there are problems with the inspection and the buyer decides not to proceed with the contract, he or she will recover the serious money deposit from the fiduciary party. An “executed contract” and an “executable contract” are valid contracts. Even if the work has to start or the money has to change ownership at a later date, both parties have forged a binding obligation for each other on the day they sign the document. With regard to real estate, a contract of sale is a contract between a buyer who wishes to buy a house or other land and a seller who owns and wishes to sell that property. A real estate purchase contract is usually offered by a buyer and is subject to acceptance of the terms by the seller. A real estate purchase agreement is a contract used to outline the terms of a residential real estate transaction between a buyer and seller. It can only be used for residential real estate for which construction is completed. A real estate purchase agreement is generally considered to be executed once the documents have been signed. The date of signatures is the date of execution or the date of final receipt. A performance contract is a contract that is still being drawn up and still contains obligations or actions to be concluded. A lease is an example of an executable contract. Both the tenant and the lessor must continue to provide services by paying the rent and making the space available.

The fiduciary process is another example of an executable real estate contract. Once tasks such as approving seller disclosures, home inspections, clarifying the title, and final commission are completed, the contract or certain parts of the contract are deemed to be performed in addition to other closing activities. Understanding the contractual conditions implies understanding the difference between the date of performance of the contract and the date of entry into force, if any, in order to avoid confusion in the future. Any changes to a contractual agreement must be in writing and signed by all parties before the changes are made. Since a contract concluded is a legal document, each party should keep a copy of it and, where appropriate, refer to it in order to fully discharge its obligations. . . .