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.
A model unit refers to a representative product, such as a home, apartment, or office space, used as part of a sales campaign. It demonstrates the design, structure, and appearance of units in a development to potential buyers.
An association of real estate brokers who agree to share listings with each other, facilitating a broader array of choices for prospective buyers and enabling brokers to share commission from sales.
A preliminary process used to estimate the most expensive home a buyer can afford based on their income and available liquid assets. This exercise outlines potential pricing but does not guarantee specific financing nor obligate the buyer to accept it.
