| Real Estate Dictionary |
| Not sure about the meaning of a particular word when it comes to real estate? Type the word to find its definition or select a letter to see all the definitions beginning with that letter. |
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| Real Estate Dictionary |
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| Price offered to the seller at the start of a negotiation. |
| A preliminary agreement, frequently secured by the payment of earnest money, between a buyer and seller that serves as an offer to purchase real estate. The agreement secures the right to purchase real estate upon agreed terms for a specific period. The earnest money is usually forfeited if the buyer's situation changes or is unable to purchase, unless the agreement specifically provides that the money is to be refunded. Also known as a Binder. |
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| Definitions are intended to be informational only. Please be advised that real estate practices vary from state to state and market to market. The information contained herein does not constitute legal advice. It is recommended that you consult with a qualified real estate attorney who can advise you specifically with respect to the requirements in your market. |
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