Contracts
Under a TREC contract, the 'closing date' is:
AThe date the contract is signed
BThe date specified in the contract for the actual closing of the transaction✓ Correct
CThe date the option period expires
DThe date the lender approves the loan
Explanation
The closing date in a TREC contract is the agreed-upon date for the actual closing (signing of closing documents, transfer of funds, and recording of the deed). Both buyer and seller must meet their obligations by the closing date. Extensions require mutual written agreement.
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