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money given by a buyer to a seller to bind a contract.
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for
shall be applied to the purchase price.
When you make an offer on a home, your real estate broker will put your
into an escrow account.
All bids must be submitted in a sealed envelope, and accompanied by a certified or cashier's check for the
Realtors preparing deeds, contracts, mortgages and
agreements are practicing law.
The purchaser forfeits the
if the sale is not consummated through the fault of the purchaser.
In addition, the
deposit may be forfeited should the transaction not close.
deposit must be paid immediately following the sale of the property.
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