CD

In appraisal and valuation ordering, CD may stand for contract date, which is the date a buyer and seller enter into a purchase agreement. It is one of several dates that may be recorded in an appraisal assignment and should not be confused with the closing date or the effective date of the appraisal.

For a purchase transaction, the contract provides information the appraiser may need to analyze, including the agreed price, financing terms, concessions and other conditions of the sale. The contract date can also be relevant when comparing the transaction with changing market conditions.

The contract date is particularly useful when there is a significant period between the agreement and closing. In a rapidly changing market, conditions may differ by the time the transaction closes or the appraisal is completed. Because “CD” can have other meanings in mortgage lending, the specific use of the abbreviation should be clear from context.