• Refers to the small but important amount of funds which accompany an offer to purchase real estate. This offer is usually written as an agreement to contract for the property. Each state and locality have varying laws about this action. It can be very binding.

 Embedded terms in definition
Real estate
 Referenced Terms
 Earnest money: Is a deposit made towards the purchase of real property. In some locales it is viewed synonymously with the Binder. Other places consider it as an additional deposit towards the purchase. Here, the amount can be quite large. Often it would accompany a signed sales contract prior to the closing or settlement.

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Beware of fraud originating in phone messages and faxes: FDIC Consumer News has warned before about crooks who call or e-mail consumers and pretend to be legitimate companies or government agencies wanting people to "verify" or "resubmit" (divulge) confidential information such as bank account or credit card numbers as well as Social Security numbers, passwords and personal identification numbers. Here are variations to know about. More...

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