earnest money

noun Law.
money given by a buyer to a seller to bind a contract.

Origin:
1550–60

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To earnest money
Example sentences
The earnest money shall be applied to the purchase price.
When you make an offer on a home, your real estate broker will put your earnest
  money into an escrow account.
All bids must be submitted in a sealed envelope, and accompanied by a certified
  or cashier's check for the earnest money deposit.
Realtors preparing deeds, contracts, mortgages and earnest money agreements are
  practicing law.
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