A written agreement between a seller and a purchaser where the purchaser commits to buying particular real estate and the seller commits to selling it under agreed-upon terms; also commonly known as a contract of sale.
An earnest money deposit is a type of advance payment made by a purchaser of real estate to show their commitment and good faith during the home-buying process.
An escrow agent is a neutral third party responsible for holding and managing funds or assets until predetermined contractual conditions are met, commonly used in real estate transactions.
A Good-Faith Deposit is a monetary advance indicating intent to pursue a contract to completion and is used in various settings including commodities, securities, and real estate transactions.
A sales contract is a formal agreement between a buyer and a seller, outlining the terms and conditions of a sale transaction.
