Ratification (of a contract)
Ratification is the formal term for the acceptance of the final version of a homebuying contract used in certain areas of the United States (such as Washington D.C.). All key dates and contingencies in the contract are generally laid out in relation to the date the contract was ratified, or accepted by both parties.
This document is a community edited guide, is not legal advice, and is subject to changes, modifications, and may contain inaccuracies or out-of-date information. As with any important financial transaction, consult a real estate professional and/or an attorney. See our terms of service for more information.