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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.

 
 

Follow this link for all the terms related to money.

 
 Embedded terms in definition
 Binder
Contract
Purchase
Sales
Settlement
 
 Related Terms
 

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